UNITED STATES

                       SECURITIES AND EXCHANGE COMMISSION

                             WASHINGTON, D.C. 20549

                                   FORM 10-QSB


[X]   QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES  EXCHANGE ACT
      OF 1934

                For the quarterly period ended September 30, 2007

[_]   TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT
      OF 1934

                  For the transition period from _____ to _____

                        Commission File Number 000-49882

                              MINDEN BANCORP, INC.
                              --------------------
        (Exact name of small business issuer as specified in its charter)

                      United States                     13-4203146
                      -------------                     ----------
             (State or other jurisdiction of         (I.R.S. Employer
              incorporation or organization)        Identification No.)

                    100 MBL Bank Dr., Minden, Louisiana 71055
                    -----------------------------------------
                    (Address of principal executive offices)

         Issuer's telephone number, including area code: (318) 377-0523

            Check whether the issuer (1) filed all reports  required to be filed
            by Section 13 or 15(d) of the Exchange Act during the past 12 months
            (or for such shorter period that the registrant was required to file
            such reports),  and (2) has been subject to such filing requirements
            for the past 90 days. Yes [X] No [_]

            Shares of common stock, par value $.01 per share,  outstanding as of
            October 31, 2007:  The  registrant  had  1,374,593  shares of common
            stock issued and  outstanding,  of which 800,112 shares were held by
            Minden Mutual  Holding  Company,  the  registrant's  mutual  holding
            company,  and 574,481  shares were held by the public and directors,
            officers and employees of the registrant.

            Transitional  Small business  Disclosure Format (check one):
            Yes [_] No [X]

<page>

                              Minden Bancorp, Inc.

                                   Form 10-QSB

                        Quarter Ended September 30, 2007

                         PART I - FINANCIAL INFORMATION

Interim Financial  Information required by Rule 10-01 of Regulation S-X and Item
303 of Regulation S-B is included in this Form 10-QSB as referenced below:


                                                                            Page
                                                                            ----

Item 1   -    Financial Statements ..........................................  1

Item 2   -    Management's Discussion and Analysis or Plan of Operation ..... 14

Item 3   -    Controls and Procedures ....................................... 18

                           PART II - OTHER INFORMATION

Item 1   -    Legal Proceedings ............................................. 19

Item 2   -    Unregistered Sales of Equity Securities and Use of Proceeds ... 19

Item 3   -    Defaults Upon Senior Securities ............................... 20

Item 4   -    Submission of Matters to a Vote of Security Holders ........... 20

Item 5   -    Other Information ............................................. 20

Item 6   -    Exhibits ...................................................... 20

Signatures    ............................................................... 21

Exhibits      ............................................................... 22

<page>

                         PART 1 - FINANCIAL INFORMATION

Item 1 - Financial Statements

                      MINDEN BANCORP, INC. AND SUBSIDIARIES
                      -------------------------------------

                           CONSOLIDATED BALANCE SHEETS
                           ---------------------------

              SEPTEMBER 30, 2007 (UNAUDITED) AND DECEMBER 31, 2006
              ----------------------------------------------------
<table>
<caption>
           ASSETS
           ------                                                      September       December
                                                                       30, 2007        31, 2006
                                                                     ------------    ------------
                                                                   (in thousands except share data)

                                                                           <c>             <c>
Cash and noninterest-bearing deposits                                $      3,069    $      2,131
Interest-bearing demand deposits                                              180             314
Federal funds sold                                                            825               0
                                                                     ------------    ------------
      Total cash and cash equivalents                                       4,074           2,445

Investment securities:
    Securities held-to-maturity (estimated market value of $859 at            860           1,108
    September 30, 2007 and $1,106 at December 31, 2006)
    Securities available-for-sale, at estimated market value               25,221          28,211
First National Bankers Bank stock, at cost                                    210             210
Federal Home Loan Bank stock, at cost                                         701           1,216
Loans, net of allowance for loan losses                                    85,787          74,963
Accrued interest receivable                                                   633             628
Premises and equipment, net                                                 7,448           6,343
Other assets                                                                  929             842
                                                                     ------------    ------------

Total assets                                                         $    125,863    $    115,966
                                                                     ============    ============

           LIABILITIES AND STOCKHOLDERS' EQUITY
           ------------------------------------

Liabilities:
------------
   Deposits:
      Noninterest-bearing                                            $     10,072    $      7,346
      Interest-bearing                                                     83,755          68,177
                                                                     ------------    ------------
           Total deposits                                                  93,827          75,523
   Accrued dividends on savings                                               813             480
   Deferred federal income taxes                                              358             404
   Federal Home Loan Bank advances                                          9,400          19,000
   Other liabilities
                                                                              722             399
                                                                     ------------    ------------
         Total liabilities                                                105,120          95,806

                                       1
     See accompanying notes to unaudited consolidated financial statements.

<page>

Stockholders' equity:
---------------------
   Preferred stock-$.01 par value 1,000,000 shares authorized-none
        issued-no rights / preferences set by board                            --              --
   Common stock, par value $.01; 4,000,000 shares authorized;
      1,454,750 shares issued and 1,374,593 outstanding as of
        September 30, 2007 and 1,376,666 outstanding as of
        December 31, 2006                                                      15              15
   Additional paid-in capital                                              16,403          16,364
   Retained earnings                                                        6,064           5,419
   Treasury stock, at cost (80,157 shares at September 30, 2007
        and 78,084 shares at December 31, 2006)                            (1,652)         (1,601)
   Accumulated other comprehensive income
                                                                              193             282
                                                                     ------------    ------------
                                                                           21,023          20,479

   Unallocated common stock held by ESOP (30,115 as of
      September 30, 2007 and 34,042 at December 31, 2006)                    (280)           (319)
                                                                     ------------    ------------
           Total stockholders' equity
                                                                           20,743          20,160
                                                                     ------------    ------------

   Total liabilities and stockholders' equity                        $    125,863    $    115,966
                                                                     ============    ============

</table>

                                       2
     See accompanying notes to unaudited consolidated financial statements.

<page>

                      MINDEN BANCORP, INC. AND SUBSIDIARIES
                      -------------------------------------

                        CONSOLIDATED STATEMENT OF INCOME
                        --------------------------------

         FOR THE THREE AND NINE MONTHS ENDED SEPTEMBER 30, 2007 AND 2006
         ---------------------------------------------------------------

                                    UNAUDITED
                                    ---------
<table>
<caption>
                                               Three months         Nine Months
                                                   Ended               Ended
                                             Sept 30,  Sept 30,  Sept 30,  Sept 30,
                                             -------   -------   -------   -------
                                               2007      2006      2007      2006
                                               ----      ----      ----      ----
                                                (in thousands except share data)

                                               <c>       <c>       <c>       <c>
Interest and dividend income:
-----------------------------
   Loans, including fees                     $ 1,764   $ 1,486   $ 4,980   $ 4,357
   Investments-taxable:
      Securities                                 142       128       412       352
      Mortgage-backed securities                 209       234       671       707
   Dividends-FHLMC/FHLB                           21        22        61        60
   Other                                          10        11        34        35
                                             -------   -------   -------   -------
      Total interest and dividend income       2,146     1,881     6,158     5,511

Interest expense:
-----------------
   Interest-bearing deposits                     818       576     2,183     1,568
   Interest on borrowed funds                    167       283       661       778
                                             -------   -------   -------   -------
      Total interest expense                     985       859     2,844     2,346
                                             -------   -------   -------   -------

      Net interest income                      1,161     1,022     3,314     3,165

   Provision for loan losses                      15        38        45        68
                                             -------   -------   -------   -------
   Net interest income after provision for
      loan losses                              1,146       984     3,269     3,097

Other operating income:
-----------------------
   Customer service fees                         159       112       482       302
   Gain on sale of assets                         --        --        --       104
   Other income                                   71        66       279       232
                                             -------   -------   -------   -------
      Total other operating income               230       178       761       638

Other operating expenses:
-------------------------
   Salaries and benefits                         507       384     1,462     1,158
   Office occupancy expense                      202       116       521       351
   Professional fees and supervisory              42        59       145       145
   OFI insurance premium                           2         2         6         7
   Other general and administrative              194       183       663       603
                                             -------   -------   -------   -------
        Total other operating expenses           947       744     2,797     2,264
                                             -------   -------   -------   -------

                                       3
     See accompanying notes to unaudited consolidated financial statements.

<page>

Income before income taxes                       429       418     1,233     1,471
--------------------------

Income tax expense                               149       143       421       500
------------------                           -------   -------   -------   -------

Net income                                   $   280   $   275   $   812   $   971
----------                                   -------   -------   -------   -------

Earnings per share                           $  0.21   $  0.21   $   .61   $   .73
Earnings per share fully diluted             $  0.20   $  0.20   $   .58   $   .69

</table>

                                       4
     See accompanying notes to unaudited consolidated financial statements.
<page>

                      MINDEN BANCORP, INC. AND SUBSIDIARIES
                      -------------------------------------

                 CONSOLIDATED STATEMENT OF STOCKHOLDERS' EQUITY
                 ----------------------------------------------

                  FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2007
                  --------------------------------------------

                                    UNAUDITED
                                    ---------

<table>
<caption>
                                                         Additional                   Other
                                                         ----------                   -----
                                              Common      Paid-In      Retained        Comp.      Treasury
                                              ------      -------      --------        -----      --------
                                              Stock       Capital      Earnings       Income        Stock         Total
                                              -----       -------      --------       ------        -----         -----
                                                                           (in thousands)

                                         <c>          <c>          <c>           <c>          <c>           <c>
Balance January 1, 2007                     $       15   $   16,364   $    5,419    $      282   $   (1,601)   $   20,479
-----------------------

Net income                                                                   812                                      812
   Dividends                                                                (167)                                    (167)
   Treasury stock                                                --                                     (51)          (51)
Amortization of awards under management
recognition and retention plan                                   39                                                    39
Change in net unrealized gain (loss) on
securities available for sale, net of tax
effect of ($46)                                                              (89)          (89)                       (89
                                                                      ----------
   Total comprehensive income                                                193
                                            ----------   ----------   ==========    ----------   ----------    ----------


Balance September 30, 2007                  $       15   $   16,403   $    6,064    $      193   $   (1,652)   $   21,023
--------------------------                  ==========   ==========   ==========    ==========   ==========    ==========

</table>

                                       5
     See accompanying notes to unaudited consolidated financial statements.
<page>

                      MINDEN BANCORP, INC. AND SUBSIDIARIES
                      -------------------------------------

                      CONSOLIDATED STATEMENT OF CASH FLOWS
                      ------------------------------------

              FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2007 AND 2006
              -----------------------------------------------------

                                    UNAUDITED
                                    ---------
<table>
<caption>
                                                               September 30,   September 30,
                                                               -------------   -------------
                                                                   2007            2006
                                                                   ----            ----
                                                                      (in thousands)

                                                                     <c>             <c>
Cash flows from operating activities:
-------------------------------------
   Net income                                                  $        812    $        971
   Adjustments to reconcile net income to net cash
       provided by operating activities:
         Provision for loan losses                                       45              68
         Depreciation and amortization                                  250             177
         Deferred income taxes                                          (46)            (24)
         Stock dividends                                                (41)            (41)
         Stock awards RRP & ESOP                                         80              77
         Gain on sale of assets                                          --            (104)
         Decrease in prepaid expenses and accrued income               (340)            (14)
         Increase in dividends payable and other liabilities            928             565
                                                               ------------    ------------
            Net cash provided by operating activities                 1,688           1,675

Cash flows from investing activities:
-------------------------------------
Activity in available for sale securities:
   Maturities, prepayments, calls, and sales                          4,792           4,522
   Purchases                                                         (1,935)         (3,475)
Activity in held to maturity securities:                                 --
   Maturities, prepayments and calls                                    248             178
   Purchases
Net increase in loans                                               (10,869)         (4,717)
Net increase in premises and equipment                               (1,338)         (1,851)
Purchase of Insurance Agency                                             --            (370)
Redemption of FHLB Stock                                                557              --
                                                               ------------    ------------
          Net cash used by investing activities                      (8,545)         (5,713)

Cash flows from financing activities:
   Net  increase (decrease) in deposits                              18,304           2,305
   Net increase in FHLB advances                                     (9,600)             --
   Net increase in Fed Funds Purchased                                   --             225
   Purchase of treasury stock and RRP shares-net                        (51)            (53)
   Dividends paid                                                      (167)           (150)
                                                               ------------    ------------
        Net cash provided by financing activities                     8,486           2,327
                                                               ------------    ------------

                                       6
     See accompanying notes to unaudited consolidated financial statements.
<page>

Net decrease in cash and cash equivalents                             1,629          (1,711)
-----------------------------------------

Cash and cash equivalents at January 1                                2,445           4,032
--------------------------------------                         ------------    ------------

Cash and cash equivalents at September 30                      $      4,074    $      2,321
=========================================                      ============    ============

</table>



                                       7
     See accompanying notes to unaudited consolidated financial statements.
<page>


                      MINDEN BANCORP, INC. AND SUBSIDIARIES
                      -------------------------------------

                      CONSOLIDATED STATEMENT OF CASH FLOWS
                      ------------------------------------

              FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2007 AND 2006
              -----------------------------------------------------

                                    UNAUDITED
                                    ---------
<table>
<caption>

                                                      Sept 30,2007     Sept 30, 2006
                                                      ------------     -------------
                                                               (in thousands)

                                                             <c>             <c>
Supplemental disclosures:
   Interest paid on deposits and borrowed funds        $      2,521    $      1,356
   Income taxes paid                                            479             432

      Noncash investing and financing activities:
         (Decrease) in unrealized gain on securities
            available for sale                         $       (136)   $       (261)


</table>




                                       8
     See accompanying notes to unaudited consolidated financial statements.
<page>

                      MINDEN BANCORP, INC. AND SUBSIDIARIES
                      -------------------------------------

                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                   ------------------------------------------

                               SEPTEMBER 30, 2007
                               ------------------


1.    Presentation of Interim Information
      -----------------------------------
      On December  11,  2001,  the Board of  Directors of MBL Bank (the "Bank" -
      formerly   known   as   Minden   Building   and   Loan   Association),   a
      Louisiana-chartered  thrift, adopted a plan of reorganization  pursuant to
      which the MBL Bank would  convert to stock form and became a wholly  owned
      subsidiary of Minden Bancorp, Inc. (the "Company"). In connection with the
      reorganization,  the Company became a majority  owned (55%)  subsidiary of
      Minden Mutual Holding Company.  The reorganization was consummated on July
      2,  2002.  The  Bank  formed  Minden  Services,  Inc.  as a  wholly  owned
      subsidiary  during 2005.  Minden Services,  Inc.'s sole purpose is to hold
      real  estate  for the  Bank  to use for  further  expansion.  The  Company
      finalized  the purchase of Woodard  Walker  Insurance  Agency,  Inc.  (the
      Agency)  in  January  of  2006.  The  unaudited   consolidated   financial
      statements include the Company and its wholly owned subsidiaries, the Bank
      and its wholly owned subsidiary Minden Services,  Inc., and Woodard Walker
      Insurance Agency, Inc. The financial  information at December 31, 2006 was
      obtained from the Company's consolidated audited financial statements. All
      intercompany  transactions  have been  eliminated  in  consolidation.  The
      Company's  significant  assets  are its  investment  in the  Bank  and the
      Agency, its loan to the Company's employee stock ownership plan (ESOP) and
      the remainder of the net offering proceeds retained by the Company.

      In the  opinion  of the  management  of the  Company  and  the  Bank,  the
      accompanying  unaudited  consolidated  financial  statements  include  all
      normal adjustments considered necessary to present fairly the consolidated
      financial position as of September 30, 2007 and December 31, 2006, and the
      consolidated  results of  operations  and cash  flows for the nine  months
      ended  September  30, 2007 and 2006,  and the  consolidated  statement  of
      stockholders' equity for the nine months ended September 30, 2007. Interim
      results are not necessarily indicative of results for a full year.

      The unaudited financial statements and notes are presented as permitted by
      Form  10-QSB,  and do not  contain  certain  information  included  in the
      Company's  audited  financial  statements  and  notes  for the year  ended
      December 31, 2006 set forth in the Company  Annual Report to  stockholders
      for such year ("Annual Report").

2.    Summary of Significant Accounting Policies
      ------------------------------------------
      The Bank is a stock  building  and  loan  association.  The  Bank  accepts
      customer  demand,  savings,  and time  deposits and  provides  residential
      mortgages,  consumer and business loans to consumers.  The Bank is subject
      to the  regulations  of certain  federal and state  agencies and undergoes
      periodic examinations by those regulatory authorities.

                                       9
<page>

2.    Summary of Significant Accounting Policies     (Continued)
      ------------------------------------------

      The  Company's  only  significant  assets and  business  activity  are its
      investment  in the Bank and the Agency,  loan to the ESOP and remainder of
      the net offering proceeds.

      Use of Estimates.  In preparing  financial  statements in conformity  with
      accounting  principles generally accepted in the United States of America,
      management is required to make estimates and  assumptions  that affect the
      reported  amounts of assets and  liabilities as of the date of the balance
      sheet and reported  amounts of revenues and expenses  during the reporting
      period.  Actual  results  could  differ  from  those  estimates.  Material
      estimates that are particularly  susceptible to significant  change in the
      near term relate to the  determination  of the  allowance for loan losses,
      the valuation of foreclosed  real estate,  deferred tax assets and trading
      activities.

      Significant  Group  Concentrations  of  Credit  Risk.  Most of the  Bank's
      activities are with customers  located within Webster  Parish,  Louisiana.
      Note  3  summarizes  the  types  of  loans  included  in the  Bank's  loan
      portfolio.  The Bank does not have any significant  concentrations  to any
      one industry or customer.

      Earnings per share (EPS).  EPS is calculated  based upon 1,333,164  shares
      (outstanding  stock  less ESOP  shares  not  released  and RRP  shares not
      earned). Fully diluted EPS is based upon the treasury stock method for the
      stock options.

3.    Loans and Allowance for Loan Losses
      -----------------------------------
      The loan  portfolio  at September  30, 2007 and  December 31, 2006,  is as
      follows (in thousands):

                                                                2007       2006
                                                                ----       ----
      First mortgage conventional loans:
         Secured by one-to-four-family residences           $ 42,650   $ 40,576
      Commercial real estate                                  14,664     13,184
      Commercial, other than real estate                      14,484     10,609
      Consumer loans (including overdrafts of $35 and $89)     8,483      6,731
      Consumer loans secured by deposits                       1,814      1,409
      Construction loans                                       7,408      7,393
                                                            --------   --------
                      Total                                   89,503     79,902
      Less:   Allowance for loan losses                         (919)      (901)
              Unfunded construction loan commitments          (2,797)    (4,038)
                                                            --------   --------
                      Loans, net                            $ 85,787   $ 74,963
                                                            ========   ========

                                       10
<page>

3.    Loans and Allowance for Loan Losses   (Continued)
      -----------------------------------

      Changes in the allowance for loan losses are summarized as follows:

      Balance, January 1, 2007 and January 1, 2006        $ 901    $ 837
      Provision for loan losses                              45       95
      Loans charged off-net of recoveries                   (27)     (31)
                                                          -----    -----

      Balance, September 30, 2007 and December 31, 2006   $ 919    $ 901
                                                          =====    =====

      The Bank charges a flat rate for the  origination or assumption of a loan.
      These fees are designed to offset  direct loan  origination  costs and the
      net amount,  if material,  is deferred and amortized,  as required by SFAS
      91.

      MBL  Bank's  lending  activity  is  concentrated  within  Webster  Parish,
      Louisiana.  Loans extended in this lending area are for one-to-four family
      dwelling units,  commercial real estate,  commercial business and consumer
      loans.  The Bank  requires  collateral  sufficient  in value to cover  the
      principal amount of the loan. Such collateral is evidenced by mortgages on
      property held and readily accessible to the Bank.

4.    Accrued Interest Receivable
      ---------------------------

      Accrued  interest  receivable  at September 30, 2007 and December 31, 2006
      consists of the following (in thousands):

                                                          2007   2006
                                                          ----   ----

      Loans                                               $529   $503
      Mortgage-backed securities                            97    115
      Investment securities and other                        7     10
                                                          ----   ----
                      Total accrued interest receivable   $633   $628
                                                          ====   ====

5.    Premises and Equipment
      ----------------------
      Premises and  equipment  at  September  30, 2007 and December 31, 2006 are
      summarized as follows (in thousands):

      Land and buildings                       $ 7,923    $ 6,599
      Furniture, fixtures and equipment            662        650
                                               -------    -------
                  Total                          8,585      7,249
      Less-accumulated depreciation             (1,137)      (906)
      ----                                     -------    -------
                  Net premises and equipment   $ 7,448    $ 6,343
                                               =======    =======

      MBL Bank built a new main office, which was completed and opened March 19,
      2007. The total cost of the project was approximately 4.5 million.

                                       11
<page>

6.    Deposits
      --------
      Deposits as of September 30, 2007 and December 31, 2006 are  summarized as
      follows (in thousands):

                                                           2007      2006
                                                           ----      ----
      Demand deposit accounts (including official
           checks of $1,025 in 2007 and $767 in 2006)   $20,431   $13,766
      Savings                                             9,988    10,657

      Certificate of deposits:
           2.00% - 2.99%                                     --        78
           3.00% - 3.99%                                  2,755     6,061
           4.00% - 4.99%                                 22,666    33,840
           5.00% - 5.99%                                 37,987    11,121
                                                        -------   -------
         Total certificates of deposits                  63,408    51,100
                                                        -------   -------
                      Total deposits                    $93,827   $75,523
                                                        =======   =======

7.    Pension Plan
      ------------
      MBL Bank has adopted a 401(k)  retirement  plan,  covering  all  full-time
      employees  based  upon a year  of  service.  The  plan  provides  for a 2%
      discretionary employer contribution (based upon compensation) with a match
      of the employees'  contribution up to 6% based upon Board  approval.  Plan
      contributions  (in thousands) for the nine months ended September 30, 2007
      and September 30, 2006 were $36.

8.    Commitments and Contingencies
      -----------------------------
      In the ordinary course of business,  MBL Bank has outstanding  commitments
      on which management does not anticipate losses. They include,  among other
      things,  commitments to extend credit and letters of credit  undertaken in
      the normal  course of  business.  As of September  30, 2007,  MBL Bank had
      $16.1  million  of loan  commitments  and  lines  of  credit  outstanding,
      including loans in process.

      When entered into, these commitments  represent  off-balance sheet risk to
      MBL Bank, with the contractual  notional  amount  representing  the Bank's
      exposure to credit loss in the event of  nonperformance by the other party
      to the instruments. Commitments to extend credit are agreements to lend to
      a customer as long as there is no violation of any  condition  established
      in the contract.  They generally have fixed  expiration  dates and require
      payment of a fee.  Since many  commitments  are expected to expire without
      being drawn  upon,  the total  commitments  do not  necessarily  represent
      future   cash   requirements.   MBL   Bank   evaluates   each   customer's
      creditworthiness  on a  case-by-case  basis,  and  obtains  an  amount  of
      collateral it deems sufficient.

9.    Employee Stock Ownership Plan (ESOP)
      ------------------------------------
      The Company  established an employee stock  ownership plan (the "ESOP") in
      connection  with the conversion and loaned (in thousands) the ESOP $524 to
      purchase 52,371 shares of common stock (3.8% of the outstanding  shares of
      the Company as of September 30, 2007).

                                       12
<page>

9.    Employee Stock Ownership Plan (ESOP)   (Continued)
      -----------------------------------
      The loan is payable over ten years at (in  thousands)  $66 per year ($16.5
      per quarter)  including  interest.  At September 30, 2007,  (in thousands)
      $280  remained  contractually  due on the loan.  As required by accounting
      standards,  the unreleased  shares are not included in the  calculation of
      EPS and the  loan  receivable  is shown as a  reduction  in  stockholders'
      equity.  Compensation  (in thousands)  under the ESOP for the period ended
      September 30, 2007 was $50 and included in salaries and  benefits.  As the
      note is paid, the shares are released and allocated to the accounts of the
      participants in the ESOP. As of September 30, 2007, 20,947 of those shares
      have been released from the ESOP.

10.   Stock Based Benefit Plans
      -------------------------
      The Company  established the 2003 Recognition and Retention Plan and Trust
      Agreement  ("RRP"),  which is a stock-based  incentive  plan.  The RRP was
      approved by the  shareholders at the Company's annual meeting held May 15,
      2003.

      The Company  authorized  26,186 shares of the Company's common stock to be
      awarded  under the RRP. The Company  purchased  the 26,186  shares in open
      market  transactions  to fund  the RRP as of  December  31,  2004.  Shares
      subject  to awards  under the RRP  shares  vest at 20% per year  under the
      plan. As of September  30, 2007,  awards  covering  18,854 shares had been
      made and 14,872  shares have been  issued.  As a result,  expense for this
      plan is being  amortized  over a  60-month  period  and is based  upon the
      market value of the  Company's  stock as of the date of the awards,  which
      was  $15.375  with  respect  to  all  the  currently  outstanding  awards.
      Compensation  (in  thousands)  under  the RRP for the  nine  months  ended
      September  30, 2007 and  September  30,  2006 was $40 and was  included in
      salaries and benefits.

      The Company  established  the 2003 Stock Option Plan (the  "Option  Plan")
      under which 65,464  shares of Company  stock are reserved for the grant of
      stock  options to  directors,  officers  and  employees.  The Option  Plan
      provides for vesting to  participants  at 20% per year. The options expire
      in ten years from the date of grant.  The exercise price of the options is
      equal to the fair  market  value of the  common  stock on the grant  date,
      which was $15.375 with respect to all the currently  outstanding  options.
      Options  covering 48,280 shares were outstanding as of September 30, 2007.
      A total of 37,103 options were exercisable as of September 30, 2007.

      The Company's  Compensation  Committee of the Board of Directors  oversees
      the RRP and the Option Plan.

      On January 1, 2006, the Company  adopted SFAS No. 123(R)  (revised  2004),
      "Share-Based Payment." Statement 123(R) replaces SFAS No. 123, "Accounting
      for Stock-Based  Compensation" and supersedes  Accounting Principles Board
      (APB) Opinion No. 25,  Accounting for Stock Issued to Employees.  SFAS No.
      123(R)  established   accounting  and  disclosure   requirements  using  a
      fair-value based method of accounting for stock-based

                                       13
<page>

10.   Stock Based Benefit Plans   (Continued)
      -------------------------

      employee  compensation  plans.  Prior to  January  1,  2006,  the  Company
      accounted  for  stock  options  using  APB  Opinion  No.  25 and  included
      disclosures of pro forma net income and earnings per share, as if the fair
      value-based  method of  accounting  defined in SFAS No. 123 had been used.
      The  Company  elected  the  modified  prospective  transition  method  for
      adopting SFAS No. 123(R) effective January 1, 2006. Under SFAS No. 123(R),
      all forms of share-based  payments to employees,  including stock options,
      are treated the same as other forms of  compensation  by  recognizing  the
      related cost in the income  statement.  The provisions apply to all awards
      granted after the required  effective date including  existing  awards not
      vested, or which are modified, repurchased, or canceled after that date.

      As of January 1,  2006,  the  Company  began to  expense  these  grants as
      required  by SFAS  No.  123(R).  Stock-based  employee  compensation  cost
      pertaining to stock options is reflected in net income with the fair value
      of  each  option  being  estimated  as of the  date  of  grant  using  the
      Black-Scholes option valuation model. The Black-Scholes model incorporates
      variable  assumptions,  which include: the expected  volatility,  which is
      based on the historical  volatility of the Company's traded stock and peer
      group  comparisons;  the expected  term  calculated  using the  simplified
      method  permitted  by SAB No. 107,  "Share-based  payments,"  the expected
      dividend  yield based on historical  patterns and peer group  performance;
      and the risk free rate, based on the U.S. Treasury yield curve at the time
      of the  grant  corresponding  to  the  expected  term.  The  Company  used
      historical  data to estimate  option  exercise and  employee  terminations
      within the  valuation  model.  The impact of  adopting  FAS 123R was a net
      charge to net income of $40,900  in 2006  based upon the  current  options
      outstanding.  The fair value of  Company  options at the date of grant was
      estimated using the Black-Scholes option-pricing model with assumptions as
      follows:  volatility,  30.07%,  risk free interest rate,  3.53%,  dividend
      yield, 1.0% and weighted-average expected life of the options, 10 years.

11.   Supplemental Retirement Benefit Plan
      ------------------------------------
      The  Association has  established a supplemental  retirement  benefit plan
      (Plan) for certain (three) key  executives.  The Plan provides for monthly
      retirement  benefits  in the amount of $5,000 per month for ten years from
      the date they retire for the executive  group as a whole.  As of September
      30, 2007, a liability of $69 (in thousands) was accrued for the Plan.

Item 2 - Management's Discussion and Analysis or Plan of Operation.

General

      The following discussion compares the consolidated  financial condition of
the Company and its wholly owned subsidiary, MBL Bank, at September 30, 2007 and
December 31, 2006,  and the results of operations  for the three and nine months
ended  September 30, 2007 with the same periods in 2006.  Currently the business
and  management of the Company is primarily  the

                                       14
<page>

business  and  management  of the  Bank.  This  discussion  should  be  read  in
conjunction  with the interim  consolidated  financial  statements and footnotes
included herein.

      The  Company  is the  holding  company  for the Bank and the  Agency.  The
Company  finalized the purchase of Woodard Walker  Insurance  Agency,  Inc. (the
Agency) in January 2006.  The purchase  price (in thousands) was $370 being paid
$300 in cash and $70 being placed in an escrow account and being earned and paid
out over a five year term based  upon  earning  targets.  This is  considered  a
related party  transaction as a director owned  approximately  20% of the agency
purchased.  The Agency has total assets (in  thousands) of $129 and  liabilities
(in  thousands) of $39 at September  30, 2007.  Total revenue for the Agency (in
thousands)  was  $66  and is  included  in  other  income,  total  expenses  (in
thousands)  of $76 is included in other general and  administrative  expenses in
the consolidated income statement as of September 30, 2007. Substantially all of
the Company's  assets are currently  held in, and its  operations  are conducted
through, its subsidiary,  MBL Bank. The Company's business consists primarily of
attracting  deposits  from the  general  public and using such  deposits to make
loans for the purchase and construction of residential  properties.  The Company
also originates commercial loans and various types of consumer loans.

      The Company is a federal corporation  organized for the purpose of being a
unitary holding company of MBL Bank. In connection with the  consummation of the
reorganization  of MBL Bank on July 2, 2002,  the  Company  acquired  all of the
capital  stock  of MBL Bank in  exchange  for 50% of the net  proceeds  from the
offering of the Company's common stock. The Company issued  approximately 45% of
its common stock to persons who submitted orders in the offering.  Minden Mutual
Holding  Company  owns  the  remaining   approximately   58%  of  the  Company's
outstanding  common stock at September 30, 2007. The  significant  assets of the
Company are the capital stock of MBL Bank and the Agency,  the Company's loan to
the  ESOP,  and the  remainder  of the net  offering  proceeds  retained  by the
Company.

Changes in Financial Condition

      Total assets  increased by $9.9 million or 8.5% from  December 31, 2006 to
September  30, 2007.  The increase was primarily due to a $10.8 million or 14.4%
increase in the Company's net loan  portfolio,  a $1.6 million or 66.6% increase
in cash and cash  equivalents,  a $1.1 million or 17.4% increase in net premises
and equipment  and a $87,000 or 10.3%  increase in other assets offset by a $3.2
million or 11.0% decrease in investments  and securities and a $515,000 or 42.4%
decrease in FHLB stock.

      The  $10.8  million  increase  in the  Company's  net loan  portfolio  was
primarily due to a $3.9 million or 36.5% increase in commercial loans other than
real estate, a $2.1 million or 5.1% increase in one-to-four  family  residential
loans,  a $1.8 million or 26.0%  increase in consumer  loans,  a $1.5 million or
11.2% increase in commercial  real estate loans, a $405,000 or 28.7% increase in
loans secured by deposits, and a $15,000 or .20% increase in construction loans.
The Company  continues to emphasize  originations of higher yielding  commercial
loans.

                                       15
<page>

      Deposits  increased  by $18.3  million or 24.2%  during  the  period  from
December 31, 2006 to September 30, 2007. The increase was due to a $15.6 million
or 22.9%  increase  in interest  bearing  deposits  and a $2.7  million or 37.1%
increase in non-interest bearing deposits.

      The Company's total classified assets for regulatory purposes at September
30, 2007 amounted to $568,000 all of which were classified as  substandard.  The
classified assets at September, 2007, consisted of 7 mortgage loans, 20 consumer
loans, and 1 commercial loan.

      Total stockholders' equity increased by $583,000 or 2.9% in the first nine
months of 2007.  The  increase  was due to a net income of  $812,000,  which was
offset  partially  by a $51,000  repurchase  of stock,  an $89,000  reduction in
unrealized  gain on  investment  securities  and $167,000 paid out in dividends.
Stockholder's  equity at September 30, 2007 totaled  $20.7  million  compared to
equity of $20.2 million at December 31, 2006.


Results of Operation

      The Company's  profitability depends primarily on its net interest income,
which is the difference between interest and dividend income on interest-earning
assets,  principally loans, investment securities and interest-bearing  deposits
in other  institutions,  and interest expense on  interest-bearing  deposits and
borrowings  from the Federal Home Loan Bank of Dallas.  Net  interest  income is
dependent  upon the level of  interest  rates and the extent to which such rates
are changing.  The Company's  profitability also depends, to a lesser extent, on
other operating income,  provision for loan losses, other operating expenses and
federal and state income taxes.

      Net income increased by $5,000 or 1.8% for the quarter ended September 30,
2007 compared to the quarter ending September 30, 2006 and decreased $159,000 or
16.4% for the nine months ending  September 30, 2007 over the comparable  period
in 2006.  The  increase  in net income for the quarter  was due  primarily  to a
$139,000  or 13.6%  increase in net  interest  income  resulting  mainly from an
increase  in loans and a $52,000 or 29.2%  increase  in other  operating  income
mainly  resulting from an increase in customer service fees offset by a $203,000
or 27.3%  increase in other  operating  expense due  primarily to an increase in
staffing and occupancy  expenses of an additional  location and a $6,000 or 4.2%
increase  in  income  tax  expense.  The  decrease  for the nine  months  ending
September  30,  2007 over the  comparable  period  2006 was due  primarily  to a
$533,000 or 23.5% increase in other operating expenses due to the increased cost
of staffing and occupancy  costs of an additional  location offset by a $149,000
or 4.7% increase in net interest  income due to an increase in loans, a $123,000
or 19.3%  increase  in other  operating  income due to an  increase  in customer
service fees, and a $79,000 or 15.8% decrease in income tax expense.

      Net  interest  income  increased  $139,000 or 13.6% for the quarter  ended
September  30, 2007 and  increased  $149,000  or 4.7% for the nine months  ended
September 30, 2007 compared to prior year periods.  The yield on earning  assets
was 5.42% for the nine month period ending September 30, 2007, compared to 5.17%
for the same period  ending  September 30, 2006.  Interest  expense for the nine
months ended  September 30, 2007 was 3.05% compared to 2.68%

                                       16
<page>

for the same period ended  September 30, 2006. The increase was primarily due to
higher rates and increased  loan demand which was partially  offset by increased
balances on interest-bearing deposits.

      There was a $15,000 provision for loan losses made for both periods ending
September 30, 2007 and September 30, 2006. At September 30, 2007,  the Company's
nonaccruing loans amounted to $21,000,  which consisted of one mortgage loan and
one  consumer  loan.  The  allowance  for loan  losses  amounted  to $919,000 at
September 30, 2007,  representing  1.1% of the total loans held in the portfolio
and 4,376.2% of the total nonaccruing loans at such date.

      Other  operating  income  increased  $52,000 or 29.2% for the three months
ending  September 30, 2007 over the same quarter ending  September 30, 2006. The
increase was due  primarily to a $47,000 or 42.0%  increase in customer  service
fees and a $5,000 or 7.6%  increase in other  income.  For the nine month period
ending  September 30, 2007 other operating  income  increased  $123,000 or 19.3%
compared to the same nine month period ending  September 30, 2006.  The increase
was primarily due to a $180,000 or 59.6% increase in customer service fees and a
$47,000 or 20.3%  increase in other income  offset by a $104,000 gain on sale of
assets in the first nine months of 2006.

      Other  operating  expenses  increased  by  $203,000 or 27.3% for the three
months ended September 30, 2007 compared to the same period ending September 30,
2006. The increase was due primarily to a $123,000 or 32.0% increase in salaries
and benefits,  an $86,000 or 74.1% increase in office occupancy  expenses and an
$11,000 or 6.0% increase in other general and administrative  expenses offset by
a $17,000 or 28.8% decrease in professional  and supervisory  fees. For the nine
month  period  ending  September  30, 2007 other  operating  expenses  increased
$533,000 or 23.5%  compared to the nine month period ending  September 30, 2006.
The increase was due to a $304,000 or 26.3% increase in salaries and benefits, a
$170,000 or 48.4% increase in office  occupancy  expenses and a $60,000 or 10.0%
increase in other  general and  administrative  expenses,  offset by a $1,000 or
14.3% decrease in OFI insurance expense.

      Income tax expense for the quarter  ending  September 30, 2007 compared to
that of the  quarter  ending  September  30, 2006  increased  $6,000 or 4.2% and
decreased $79,000 or 15.8% for the nine months ended September 30, 2007 compared
to the same period in 2006 due to lower net income before taxes.

Liquidity and Capital Resources

      The Company adjusts its liquidity levels to fund deposit  outflows,  repay
its borrowings and to fund loan commitments.  The Company also adjusts liquidity
as appropriate to meet asset and liability management objectives.

      The  Company's  primary  sources of funds are deposits,  amortization  and
prepayment  of loans and  mortgage-backed  securities,  maturities of investment
securities  and other  short-term  investments,  and earnings and funds provided
from  operations.  In addition,  the Company  invests excess funds in short-term
interest-earning  accounts and other  assets,  which  provide  liquidity to meet
lending requirements.

                                       17
<page>

      A significant  portion of the Company's  liquidity  consists of securities
classified  as available for sale and cash and cash  equivalents.  The Company's
primary  sources  of cash are net  income,  principal  repayments  on loans  and
mortgage-backed  securities  and increases in deposit  accounts.  If the Company
requires  funds  beyond  its  ability to  generate  them  internally,  borrowing
agreements  exist with the Federal  Home Loan Bank of Dallas,  which  provide an
additional source of funds.

      MBL Bank is required to maintain  regulatory  capital  sufficient  to meet
tangible,  core and risk-based  capital ratios of at least 1.5%,  3.0% and 8.0%,
respectively.  At September  30,  2007,  the Bank  exceeded  each of its capital
requirements with ratios of 15.41%, 15.41% and 26.80%, respectively.

Item 3 - Controls and Procedures

      Our management  evaluated,  with the  participation of our Chief Executive
Officer  and Chief  Financial  Officer,  the  effectiveness  of the  design  and
operation  of our  disclosure  controls  and  procedures  (as  defined  in Rules
13a-15(e) or 15d-15(e) under the Securities  Exchange Act of 1934) as of the end
of the  period  covered  by this  report.  Based on such  evaluation,  our Chief
Executive Officer and Chief Financial Officer have concluded that our disclosure
controls and  procedures  were  effective as of the date of such  evaluation  to
ensure that material  information  relating to us,  including  our  consolidated
subsidiaries,   was  made  known  to  them  by  others  within  those  entities,
particularly  during the period in which this report was being  prepared.  There
was no change in our internal  control over  financial  reporting  that occurred
during the period  covered by this report that has  materially  affected,  or is
reasonably  likely to materially  affect,  our internal  control over  financial
reporting.


                                       18
<page>

                              Minden Bancorp, Inc.
                                   Form 10-QSB
                        Quarter Ended September 30, 2007

                           PART II - OTHER INFORMATION

Item 1 -   Legal Proceedings:

              There are no matters required to be reported under this item.

Item 2 -   Unregistered Sales of Equity Securities and Use of Proceeds

              (a)-(b) Not applicable.

              (c)   The following table contains information about the Company's
purchases of equity securities pursuant to its stock repurchase plans during the
quarter ended September 30, 2007.

<table>
<caption>
                                                Total Number
                                                 of Shares
                                                Purchased as
                                                  Part of       Maximum Number
                          Total                   Publicly    of Shares that May
                        Number of     Average    Announced     Yet Be Purchased
                         Shares     Price Paid    Plans or    Under the Plans or
           Period       Purchased    per Share    Programs         Programs
---------------------------------------------------------------------------------

                       <c>         <c>          <c>              <c>
July 1-31, 2007                                                      17,389

August 1-31, 2007          1,873       $23.75       1,873            15,516

September 1-30, 2007

  Total                    1,873       $23.75        1,873           15,516
                           =====       ======        =====           ======
</table>
-------------------

      The Company  instituted a repurchase  program in September 2003 for 39,278
      shares of the Company's outstanding shares along with the authorization to
      purchase up to 26,186 shares to fund the Company's  2003  Recognition  and
      Retention Plan and Trust Agreement (the

                                       19
<page>

      "Recognition  Plan"). In September 2004, the Company authorized the second
      stock repurchase plan for up to 31,000 shares of the Company's outstanding
      common shares.

      Upon completion of the second repurchase  program in May 2005, the Company
      announced a third stock repurchase  program of up to an additional  29,000
      shares of outstanding common stock.

      A total of 26,186 shares have been purchased for the Recognition  Plan and
      83,762  shares have been  purchased  under the  repurchase  programs  with
      15,516 shares  remaining to be repurchased at September 30, 2007 under the
      third stock repurchase program.

Item 3 -   Defaults Upon Senior Securities:

                  There are no matters required to be reported under this item.

Item 4 -   Submission of Matters to a Vote of Security Holders:

                  There are no matters required to be reported under this item.

Item 5 -   Other Information:

                  There are no matters required to be reported under this item.

Item 6 -   Exhibits

                  (a) The following exhibits are filed herewith:

               EXHIBIT NO.          DESCRIPTION

                  31.1              Certification pursuant to Rule 13a-14 of the
                                    Security  Exchange Act of 1934,  as amended,
                                    as adopted  pursuant  to Section  302 of the
                                    Sarbanes-Oxley Act of 2002. 31.2
                  31.2              Certification pursuant to Rule 13a-14 of the
                                    Security  Exchange Act of 1934,  as amended,
                                    as adopted  pursuant  to Section  302 of the
                                    Sarbanes-Oxley Act of 2002.
                  32.1             Certification  pursuant to 18 U.S.C. Section
                                    1350, as adopted  pursuant to Section 906 of
                                    Sarbanes-Oxley Act of 2002.
                  32.2              Certification  pursuant to 18 U.S.C. Section
                                    1350, as adopted  pursuant to Section 906 of
                                    Sarbanes-Oxley Act of 2002.


                                       20
<page>

                                   SIGNATURES


      In accordance  with the  requirements  of the  Securities  Exchange Act of
1934,  the  registrant  caused  this  report to be  signed on its  behalf by the
undersigned, thereunto duly authorized.


                                         MINDEN BANCORP, INC.


Date:  November 14, 2007                 /s/ A. David Evans
                                         ------------------
                                         A. David Evans
                                         President and Chief Executive Officer


Date:  November 14, 2007                 /s/ Becky T. Harrell
                                         --------------------
                                         Becky T. Harrell
                                         Chief Financial Officer and Treasurer




                                       21