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 March 31, 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 April 30, 2007: The  registrant had 1,375,666  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 575,554 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 March 31, 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 ........................................ 17

                           PART II - OTHER INFORMATION

Item 1   -   Legal Proceedings .............................................. 18

Item 2   -   Unregistered Sales of Equity Securities and Use of Proceeds .... 18

Item 3   -   Defaults Upon Senior Securities ................................ 19

Item 4   -   Submission of Matters to a Vote of Security Holders ............ 19

Item 5   -   Other Information .............................................. 19

Item 6   -   Exhibits ....................................................... 19

Signatures    ............................................................... 20

Exhibits      ............................................................... 21

<page>


                         PART 1 - FINANCIAL INFORMATION

Item 1 - Financial Statements

                      MINDEN BANCORP, INC. AND SUBSIDIARIES

                           CONSOLIDATED BALANCE SHEETS

                MARCH 31, 2007 (UNAUDITED) AND DECEMBER 31, 2006
<table>
<caption>

           ASSETS
           ------
                                                                       March       December
                                                                     31, 2007      31, 2006
                                                                     ---------    ---------

                                                                        <c>          <c>
                                                                 (in thousands except share data)

Cash and noninterest-bearing deposits                                $   2,554    $   2,131
Interest-bearing demand deposits                                           695          314
Federal funds sold                                                       1,000            0
                                                                     ---------    ---------
      Total cash and cash equivalents                                    4,249        2,445

Investment securities:
    Securities held-to-maturity (estimated market value of $885 at         887        1,108
    March 31, 2007 and $1,106 at December 31, 2006)
    Securities available-for-sale, at estimated market value            27,399       28,211
First National Bankers Bank stock, at cost                                 210          210
Federal Home Loan Bank stock, at cost                                      926        1,216
Loans, net of allowance for loan losses                                 78,221       74,963
Accrued interest receivable                                                615          628
Premises and equipment, net                                              7,057        6,343
Other assets                                                               884          842
                                                                     ---------    ---------

Total assets                                                         $ 120,448    $ 115,966
                                                                     =========    =========

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

Liabilities:
------------
   Deposits:
      Noninterest-bearing                                            $   8,457    $   7,346
      Interest-bearing                                                  71,536       68,177
                                                                     ---------    ---------
           Total deposits                                               79,993       75,523
   Accrued dividends on savings                                            647          480
   Deferred federal income taxes                                           482          404
   Federal Home Loan Bank advances                                      18,500       19,000
   Other liabilities                                                       475          399
                                                                     ---------    ---------
         Total liabilities                                             100,097       95,806


     See accompanying notes to unaudited consolidated financial statements.


                                       1
<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 1,375,666 outstanding as of
        March 31, 2007 and 1,376,666 outstanding as of
         December 31, 2006                                                  15           15
   Additional paid-in capital                                           16,377       16,364
   Retained earnings                                                     5,664        5,419
   Treasury stock, at cost (79,084 shares at March 31, 2007 and
      78,084 shares at December 31, 2006)                               (1,623)      (1,601)
   Accumulated other comprehensive income                                  224          282
                                                                     ---------    ---------
                                                                        20,657       20,479

   Unallocated common stock held by ESOP (32,733 as of
      March 31, 2007 and 34,042 at December 31, 2006)                     (306)        (319)
                                                                     ---------    ---------
           Total stockholders' equity                                   20,351       20,160
                                                                     ---------    ---------

   Total liabilities and stockholders' equity                        $ 120,448    $ 115,966
                                                                     =========    =========
</table>


     See accompanying notes to unaudited consolidated financial statements.


                                       2
<page>

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

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

               FOR THE THREE MONTHS ENDED MARCH 31, 2007 AND 2006
               --------------------------------------------------

                                    UNAUDITED
                                    ---------
                                                       Three months Ended
                                                       ------------------
                                                     March 31,     March 31,
                                                     ---------     ---------
                                                       2007          2006
                                                       ----          ----
                                                (in thousands except share data)

Interest and dividend income:
-----------------------------
   Loans, including fees                            $    1,539   $    1,399
   Investments-taxable:
      Securities                                           133          108
      Mortgage-backed securities                           231          230
   Dividends-FHLMC/FHLB                                     21           19
   Other                                                    13           19
                                                    ----------   ----------
      Total interest and dividend income                 1,937        1,775

Interest expense:
-----------------
   Interest-bearing deposits                               640          474
   Interest on borrowed funds                              235          225
                                                    ----------   ----------
      Total interest expense                               875          699
                                                    ----------   ----------

      Net interest income                                1,062        1,076

   Provision for loan losses                                15           15
                                                    ----------   ----------
   Net interest income after provision for
     loan losses                                         1,047        1,061

Other operating income:
-----------------------
   Customer service fees                                   155           91
   Gain on sale of assets                                    0          103
   Other Income                                             81           78
                                                    ----------   ----------
      Total other operating income                         236          272

Other operating expenses:
-------------------------
   Salaries and benefits                                   455          385
   Office occupancy expense                                121          112
   Professional fees and supervisory                        56           43
   SAIF insurance premium                                    2            2
   Other general and administrative                        202          214
                                                    ----------   ----------
        Total other operating expenses                     836          756
                                                    ----------   ----------

     See accompanying notes to unaudited consolidated financial statements.


                                       3
<page>


Income before income taxes                                 447          577
--------------------------

Income tax expense                                         150          196
------------------                                  ----------   ----------

Net income                                          $      297   $      381
----------                                          ==========   ==========

Earnings per share                                  $     0.22   $     0.29
Earnings per share fully diluted                    $     0.21   $     0.27


     See accompanying notes to unaudited consolidated financial statements.


                                       4
<page>

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

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

                    FOR THE THREE MONTHS ENDED MARCH 31, 2007
                    -----------------------------------------

                                    UNAUDITED
                                    ---------

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

                                                      <c>         <c>          <c>           <c>          <c>          <c>
                                                                                      (in thousands)

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

Net income                                                                               297                                    297
   Dividends                                                                             (52)                                   (52)
   Treasury stock                                                            --                                    (22)         (22)
Amortization of awards under
management recognition and
retention plan                                                               13                                                  13
Change in net unrealized gain (loss) on securities
available for sale, net of tax effect of ($30)                                           (58)          (58)                     (58)
                                                                                  ----------
   Total comprehensive income                                                            239
                                                         ---------   ----------   ==========    ----------   ---------    ---------

Balance March 31, 2007                                   $      15   $   16,377   $    5,664    $      224   $  (1,623)   $  20,657
----------------------                                   =========   ==========   ==========    ==========   =========    =========

</table>


     See accompanying notes to unaudited consolidated financial statements.


                                       5
<page>

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

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

               FOR THE THREE MONTHS ENDED MARCH 31, 2007 AND 2006
               --------------------------------------------------

                                    UNAUDITED
                                    ---------
<table>
<caption>
                                                                March 31,     March 31,
                                                                  2007          2006
                                                               ----------    ----------

                                                                   <c>            <c>
                                                                   (in thousands)

Cash flows from operating activities:
-------------------------------------
   Net income                                                  $      297    $      381
   Adjustments to reconcile net income to net cash
     provided by operating activities:
         Provision for loan losses                                     15            15
         Depreciation and amortization                                 44            52
         Deferred income taxes                                         13            25
         Stock dividends                                              (17)          (12)
         Stock awards RRP & ESOP                                       13            13
          Gain on sale of assets                                       --          (103)
          Other                                                       (48)            4
         Decrease in prepaid expenses and accrued income               13            (4)
         Increase in dividends payable and other liabilities          350           253
                                                               ----------    ----------
            Net cash provided by operating activities                 680           624

Cash flows from investing activities:
-------------------------------------
Activity in available for sale securities:
   Maturities, prepayments, calls, and sales                        1,554         1,661
   Purchases                                                         (830)       (2,778)
Activity in held to maturity securities:                               --
   Maturities, prepayments and calls                                  221            28
   Purchases
Net increase in loans                                              (3,273)       (4,219)
Net increase in premises and equipment                               (752)         (120)
Purchase of Insurance Agency                                           --          (308)
Decrease in FHLB Stock                                                307            --
                                                               ----------    ----------
          Net cash used by investing activities                    (2,773)       (5,736)

Cash flows from financing activities:
   Net increase (decrease) in deposits                              4,471         3,659
   Net increase in FHLB advances                                     (500)          (75)


     See accompanying notes to unaudited consolidated financial statements.

                                       6
<page>

   Purchase of treasury stock and RRP shares-net                      (22)          (52)
   Dividends paid                                                     (52)          (46)
                                                               ----------    ----------
        Net cash provided by financing activities                   3,897         3,486
                                                               ----------    ----------

Net decrease in cash and cash equivalents                           1,804        (1,626)
-----------------------------------------

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

Cash and cash equivalents at March 31                          $    4,249    $    2,406
-------------------------------------                          ==========    ==========
</table>



     See accompanying notes to unaudited consolidated financial statements.


                                       7
<page>

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

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

               FOR THE THREE MONTHS ENDED MARCH 31, 2006 AND 2007
               --------------------------------------------------

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

                                                    March 31, 2007    March 31, 2006
                                                    --------------    --------------

                                                          <c>            <c>
                                                             (in thousands)

Supplemental disclosures:
   Interest paid on deposits and borrowed funds           $ 708          $ 597
   Income taxes paid                                         54            -0-

      Noncash investing and financing activities:
         (Decrease) in unrealized gain on securities
            available for sale                            ($ 88)         $(195)


</table>









     See accompanying notes to unaudited consolidated financial statements.

                                       8
<page>

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

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

                                 MARCH 31, 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 March 31, 2007 and December  31,  2006,  and the
      consolidated  results of  operations  and cash flows for the three  months
      ended  March  31,  2007  and  2006,  and  the  consolidated  statement  of
      stockholders'  equity for the three months  ended March 31, 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 1,375,666  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 March 31, 2007 and December 31, 2006, is as follows
      (in thousands):

                                                              2007       2006
                                                            --------   --------
      First mortgage conventional loans:
         Secured by one-to-four-family residences           $ 41,652   $ 40,576
      Commercial real estate                                  13,424     13,184
      Commercial, other than real estate                      12,593     10,609
      Consumer loans (including overdrafts of $40 and $89)     7,300      6,731
      Consumer loans secured by deposits                       1,393      1,409
      Construction loans                                       7,406      7,393
                                                            --------   --------
                      Total                                   83,768     79,902
      Less:Allowance for loan losses                            (907)      (901)
                 Unfunded construction loan commitments       (4,640)    (4,038)
                                                            --------   --------
                      Loans, net                            $ 78,221   $ 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                                 15      95
           Loans charged off-net of recoveries                       (9)    (31)
                                                                  -----   -----

           Balance, March 31, 2007 and December 31, 2006          $ 907   $ 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.  The  majority of loans  extended in this  lending area are for
      one-to-four  family  dwelling  units;  however,  the Bank is expanding its
      lending  activities to  commercial  real estate,  commercial  business and
      consumer  loans.  See  above  for  detail.  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 March 31,  2007 and  December  31,  2006
      consists of the following (in thousands):

                                                          2007   2006
                                                          ----   ----

      Loans                                               $496   $503
      Mortgage-backed securities                           111    115
      Investment securities and other                        8     10
                                                          ----   ----
                      Total accrued interest receivable   $615   $628
                                                          ====   ====

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

      Land and buildings                       $ 7,346    $ 6,599
      Furniture, fixtures and equipment            653        650
                                               -------    -------
                  Total                          7,999      7,249
      Less-accumulated depreciation               (942)      (906)
                                               -------    -------
                  Net premises and equipment   $ 7,057    $ 6,343
                                               =======    =======

      Included  in  land  and  buildings  is $923  (in  thousands)  of land  and
      construction  costs related to the Homer Road  property.  MBL Bank built a
      new main office,  which was completed and opened March 19, 2007. The total
      cost of the project was approximately 4.0 million.

                                       11
<page>

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

      Demand deposit accounts (including official
           checks of $597 in 2007 and $383 in 2006)   $15,779   $13,766
      Savings                                          11,176    10,657

      Certificate of deposits:
           2.00% - 2.99%                                   --        78
           3.00% - 3.99%                                4,117     6,061
           4.00% - 4.99%                               29,638    33,840
           5.00% - 5.99%                               19,283    11,121
                                                      -------   -------
             Total certificates of deposits            53,038    51,100
                                                      -------   -------
                      Total deposits                  $79,993   $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 three months ended March 31, 2007 and
      March 31, 2006 were $12 each year.

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 March 31, 2007,  MBL Bank had $20.2
      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 March 31, 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 March 31, 2007, (in thousands) $306
      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
      March 31, 2007 was $16.5 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 March 31,  2007,  19,638 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 March 31, 2007,  awards  covering  18,854 shares had been made
      and 11,104 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 three  months  ended  March 31, 2007 and
      March 31, 2006 was $13 each year and was included in salaries and benefits
      each year.

      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  49,080 shares were  outstanding as of March 31, 2007. A
      total of 27,526 options were exercisable as of March 31, 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   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

                                       13
<page>

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

      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
      withing 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 March 31,
      2007, a liability of $54 (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 March 31, 2007 and
December  31,  2006,  and the results of  operations  for the three months ended
March  31,  2007 with the same  periods  in 2006.  Currently  the  business  and
management of the Company is primarily the business and  management of the Bank.
This  discussion  should be read in  conjunction  with the interim  consolidated
financial statements and footnotes included herein.

                                       14
<page>

      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 $153 and  liabilities
(in  thousands)  of $85 at March 31,  2007.  Total  revenue  for the  Agency (in
thousands)  was $81 and is  included in other  income,  and total  expenses  (in
thousands)  of $79,  which are  included  in other  general  and  administrative
expenses  in  the   consolidated   income   statement  as  of  March  31,  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 March  31,  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 $4.5 million or 3.9% from  December 31, 2006 to
March 31,  2007.  The  increase  was  primarily  due to a $3.3  million  or 4.3%
increase  in the  Company's  net  loan  portfolio  and a $1.8  million  or 73.8%
increase in cash and cash equivalents.

      The  $3.3  million  increase  in the  Company's  net  loan  portfolio  was
primarily  due  to a  $1.1  million  or  2.7%  increase  in  one-to-four  family
residential  loans, a $240,000 or 1.8% increase in commercial real estate loans,
a $2.0 million or 18.7% increase in commercial  loans other than real estate,  a
$569,000  or 8.5%  increase  in consumer  loans,  a $13,000 or .18%  increase in
construction loans, and a $16,000 or 1.1% decrease in loans secured by deposits.
The Company  continues to emphasize  originations of higher yielding  commercial
loans.

      Deposits increased by $4.5 million or 5.9% during the period from December
31,  2006 to March 31,  2007.  The  increase  was due to a $3.4  million or 4.9%
increase in interest  bearing  deposits and a $1.1 million or 15.1%  increase in
non-interest bearing deposits.

      The Company's total classified assets for regulatory purposes at March 31,
2007  amounted to $546,000  all of which were  classified  as  substandard.  The
classified assets at March 31, 2007, consisted of eleven mortgage loans, and ten
consumer loans.

                                       15
<page>

      Total stockholders' equity increased by $191,000 or .9% in the first three
months of 2007.  The  increase  was due to a net income of  $297,000,  which was
offset  partially  by $22,000  repurchase  of stock and a $58,000  reduction  in
unrealized gain on investment securities. Stockholder's equity at March 31, 2007
totaled $20.4 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  decreased by $84,000 or 22.0% for the quarter  ended March 31,
2007 compared to quarter  ending March 31, 2006.  The decrease was due primarily
to a $36,000 or 13.2% decrease in other  operating  income,  an $80,000 or 10.6%
increase in other  operating  expenses  offset by a $46,000 or 23.5% decrease in
income tax expense and a $14,000 or 1.3%  decrease in net interest  income.  The
income and expenses of the Agency are included in the totals.

      Net interest income decreased  $14,000 or 1.3% for the quarter ended March
31, 2007.  The yield on earning assets was 1.82% for the period ending March 31,
2007,  compared to 1.66% for the period ending March 31, 2006.  Interest expense
for the three  months  ended  March 31,  2007 was .99%  compared to .66% for the
period ended March 31, 2006.  The increase was primarily due to higher rates and
increased balances on interest-bearing balances and borrowed funds.

      There  was a  $15,000  provision  for loan  losses  made for both  periods
endeding  March 31, 2007 and March 31, 2006.  At March 31, 2007,  the  Company's
nonaccruing loans amounted to $23,000,  which consisted of one mortgage loan and
one consumer loan.  The allowance for loan losses  amounted to $907,000 at March
31,  2007,  representing  1.15% of the total  loans  held in the  portfolio  and
3,943.5% of the total nonaccruing loans at such date.

      Other  operating  income  decreased  $36,000 or 13.2% for the three months
ending March 31, 2007 over comparable quarter. The decrease was due primarily to
a  $103,000  gain on sale of assets in the first  quarter  of 2006  offset by an
increase of $64,000 or 70.3% increase in customer service fees.

      Other  operating  expenses  increased  by  $80,000  or 10.6% for the three
months  ended March 31, 2007.  The  increase  was due  primarily to a $70,000 or
18.2%  increase in salaries and  benefits,  a $9,000 or 8.0%  increase in office
expenses,  a $13,000 or 30.2%  increase in  professional  and  supervisory  fees
partially offset by a decrease of $12,000 or 5.6% in other expenses.

                                       16
<page>

      Income tax expense for the quarter  ending March 31, 2007 compared to that
of the quarter ending March 31, 2006 decreased $46,000 or 23.5% 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.

      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  March  31,  2007,  the  Bank  exceeded  each  of its  capital
requirements with ratios of 15.56%, 15.56% and 28.05%, 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.


                                       17
<page>


                              Minden Bancorp, Inc.
                                   Form 10-QSB
                          Quarter Ended March 31, 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 March 31, 2007.

<table>
<caption>
                                                          Total Number of
                                                              Shares
                                                           Purchased as        Maximum Number
                                 Total                   Part of 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>
January 1-31, 2007                                                                18,389

February 1-28, 2007                                                               18,389

March 1-31, 2007                 1,000               $22        1,000             17,389

Total                            1,000               $22        1,000             17,389
                                ======            ======       ======             ======
</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 "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.

                                       18
<page>

      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
      81,889  shares have been  purchased  under the  repurchase  programs  with
      17,389  shares  remaining  to be  repurchased  at March 31, 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        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.


                                       19
<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:      May 15, 2007                 /s/ A. David Evans
                                        ------------------
                                        A. David Evans
                                        President and Chief Executive Officer


Date:      May 15, 2007                 /s/ Becky T. Harrell
                                        --------------------
                                        Becky T. Harrell
                                        Chief Financial Officer and Treasurer


                                       20