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|  UNITED STATES                |
|------------------------------------|
| SECURITIES AND EXCHANGE COMMISSION |
| Washington, D.C.  20549  |

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| FORM 10-Q                                         |
|---------------------------------------------------|
| (Mark One)                                        |
| x                                                 | QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
|                                              |
| For the quarterly period ended September 30, 2010 |
| OR                                                |
| o                                                 | TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
| For the transition period from |   |   to   |   |   |
|--------------------------------|--------|----------------------------|--------|--------|
| Commission file number: 333-169458                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |
| Minden Bancorp, Inc.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |
| (Exact Name of Registrant as Specified in Its Charter)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |
| Louisiana                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |   | 90-0610674 |
| (State or Other Jurisdiction of Incorporation or Organization)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |   | (I.R.S. Employer Identification No.) |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |
| 100 MBL Bank DriveMinden, Louisiana                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |   |  71055 |
| (Address of Principal Executive Offices)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |   | (Zip Code) |
| (318) 371-4156                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |
| (Registrant’s Telephone Number, Including Area Code)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |
| Not Applicable                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |
| (Former name, former address and former fiscal year, if changed since last report)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |
| Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 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.  o Yes   x No                                                                                                                                                                                                                                                                                       |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |
| Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Date File required to be submitted and posted pursuant to Rule 405 of Regulation S-T during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).  o Yes    o  No                                                                                                                                                                                                                                                              |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |
| Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company.  See the definitions of “large accelerated filer,” “accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act. (Check One):                                                                                                                                                                                                                                                                                                                       |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |
| Large accelerated filer                             o                                                      Accelerated filer                     o |
| Non-accelerated filer                               o                                                   Smaller reporting company      x                                                                                           |
| (Do not check if a smaller reporting company)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |
| Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |
| o Yes                     x  No                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |
| APPLICABLE ONLY TO CORPORATE ISSUERS:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |
| Indicate the number of shares outstanding of each of the issuer’s classes of common stock, as of the latest practicable date:  As of December 20, 2010, no shares of the Registrant’s common stock were issued and outstanding.* *        The issuer became subject to the filing requirements of Sections 13 and 15(d) when its Registration Statement on Form S-1, File No. 333-169458, was declared effective by the Securities and Exchange Commission on November 9, 2010.                                                                                                                                         |

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| PART I - FINANCIAL INFORMATION                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 | Page      |
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|-----------|
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |      |
| Item 1 -               Financial Statements (Unaudited)                                                                                                                                                     |  1   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |
| Item 2 -               Management’s Discussion and Analysis of Financial Condition and Results of Operations                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       | 26        |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |
| Item 3 -               Quantitative and Qualitative Disclosures About Market Risk                                                                                                                           |  32  |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |
| Item 4 -               Controls and Procedures                                                                                                                                                              |  32  |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |
| PART II - OTHER INFORMATION                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |
| Item 1 -               Legal Proceedings                                                                                                                                                                    |  32  |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |
| Item 1A -            Risk Factors                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |  33  |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |
| Item 2 -               Unregistered Sales of Equity Securities and Use of Proceeds                                                                                                                          |  33  |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |
| Item 3 -               Defaults Upon Senior Securities                                                                                                                                                      |  33  |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |
| Item 4 -               (Removed and Reserved)                                                                                                                                                               |  33  |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |
| Item 5 -               Other Information                                                                                                                                                                    |  33  |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |
| Item 6 -               Exhibits                                                                                                                                                                             |  33  |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |
| Signatures                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |   34 |

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|                                                                            |   | September 30, |    |   | December 31, |   |
|---------------------------------------------------------------------------------|--------|---------------|---------|--------|--------------|--------|
| A S S E T S                                                                     |   | 2010          |    |   | 2009         |   |
|                                                                            |   | (Unaudited)   |    |   |         |   |
|                                                                            |   |          |    |   |         |   |
| Cash and noninterest-bearing deposits                                           |   | $             | 2,661   |   |         | $      | 3,190 |   |
| Interest-bearing demand deposits                                                |   |          | 399     |   |         |   | 774 |   |
| Federal funds sold                                                              |   |          | 21,500  |   |         |   | 29,550 |   |
| Total cash and cash equivalents                                                 |   |          | 24,560  |   |         |   | 33,514 |   |
|                                                                            |   |          |    |   |         |   |   |   |
| Investment securities:                                                          |   |          |    |   |         |   |   |   |
| Securities held-to-maturity (estimated market value of $148-2010 and $168-2009) |   |          | 145     |   |         |   | 166 |   |
| Securities available-for-sale, at estimated market value                        |   |          | 53,694  |   |         |   | 50,630 |   |
|                                                                            |   |          |    |   |         |   |   |   |
| First National Banker’s Bank stock, at cost                               |   |          | 210     |   |         |   | 210 |   |
| Federal Home Loan Bank stock, at cost                                           |   |          | 239     |   |         |   | 238 |   |
| Loans, net of allowance for loan losses of $1,011-2010 and $1,001-2009          |   |          | 127,600 |   |         |   | 117,064 |   |
| Accrued interest receivable                                                     |   |          | 709     |   |         |   | 739 |   |
| Premises and equipment, net                                                     |   |          | 5,627   |   |         |   | 5,820 |   |
| Other real estate owned                                                         |   |          | 94      |   |         |   | 130 |   |
| Prepaid and other assets                                                        |   |          | 2,167   |   |         |   | 2,347 |   |
|                                                                            |   |          |    |   |         |   |   |   |
| Total assets                                                                    |   | $             | 215,045 |   |         | $      | 210,858 |   |

----

|                                                                                                                                              |   | September 30, |    |   | December 31, |   |
|---------------------------------------------------------------------------------------------------------------------------------------------------|--------|---------------|---------|--------|--------------|--------|
| LIABILITIES AND STOCKHOLDERS’ EQUITY                                                                                                        |   | 2010          |    |   | 2009         |   |
|                                                                                                                                              |   | (Unaudited)   |    |   |         |   |
|                                                                                                                                              |   |          |    |   |         |   |
| Liabilities:                                                                                                                                      |   |          |    |   |         |   |
| Deposits:                                                                                                                                         |   |          |    |   |         |   |
| Noninterest-bearing                                                                                                                               |   | $             | 20,570  |   |         | $      | 30,830 |   |
| Interest-bearing                                                                                                                                  |   |          | 169,135 |   |         |   | 156,936 |   |
| Total deposits                                                                                                                                    |   |          | 189,705 |   |         |   | 187,766 |   |
| Accrued interest payable                                                                                                                          |   |          | 326     |   |         |   | 364 |   |
| Other liabilities                                                                                                                                 |   |          | 1,024   |   |         |   | 826 |   |
| Total liabilities                                                                                                                                 |   |          | 191,055 |   |         |   | 188,956 |   |
|                                                                                                                                              |   |          |    |   |         |   |   |   |
| Commitments and contingent liabilities                                                                                                            |   |          |    |   |         |   |   |   |
|                                                                                                                                              |   |          |    |   |         |   |   |   |
| Stockholders’ equity:                                                                                                                       |   |          |    |   |         |   |   |   |
| Preferred stock-$.01 par value; authorized 1,000,000 shares; none issued-no rights/preferences set by board                                       |   |          | -       |   |         |   | - |   |
| Common stock-$.01 par value; authorized 4,000,000 shares; 1,454,750 shares issued and 1,365,316 shares-2010 and 1,365,316 shares-2009 outstanding |   |          | 15      |   |         |   | 15 |   |
| Additional paid-in capital                                                                                                                        |   |          | 16,572  |   |         |   | 16,572 |   |
| Retained earnings                                                                                                                                 |   |          | 8,883   |   |         |   | 7,314 |   |
| Accumulated other comprehensive income                                                                                                            |   |          | 540     |   |         |   | 82 |   |
|                                                                                                                                              |   |          | 26,010  |   |         |   | 23,983 |   |
|                                                                                                                                              |   |          |    |   |         |   |   |   |
| Unearned common stock held by Management Recognition and Retention Plan (MRRP) (6,100 shares-2010 and 7,408 shares-2009)                          |   |          | (62     | )      |         |   | (78 | ) |
|                                                                                                                                              |   |          |    |   |         |   |   |   |
| Unallocated common stock held by ESOP (10,474-2010 and 13,092 shares-2009 unreleased)                                                             |   |          | (110    | )      |         |   | (155 | ) |
| Treasury stock-at cost (89,434 shares-2010 and 2009)                                                                                              |   |          | (1,848  | )      |         |   | (1,848 | ) |
| Total stockholders’ equity                                                                                                                  |   |          | 23,990  |   |         |   | 21,902 |   |
|                                                                                                                                              |   |          |    |   |         |   |   |   |
| Total liabilities and stockholders’ equity                                                                                                  |   | $             | 215,045 |   |         | $      | 210,858 |   |

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| MINDEN BANCORP. INC. AND SUBSIDIARIES |
|---------------------------------------|
|                                  |
| Consolidated Statements of Income     |
| (in thousands, except per share)      |

|                                                                                  |   | Three Months Ended       |   |   | Nine Months Ended  |   |
|---------------------------------------------------------------------------------------|--------|--------------------------|--------|--------|--------------------|--------|
|                                                                                  |   |  September 30, 2010 |   |   | September 30, 2009 |   |   | September 30, 2010 |   |   | September 30, 2009 |   |
|                                                                                  |   | (Unaudited)              |   |   | (Unaudited)        |   |   | (Unaudited) |   |   | (Unaudited) |   |
| Interest and dividend income:                                                         |   |                     |   |   |               |   |   |   |   |   |   |   |
|    Loans, including fees                                               |   | $                        | 1,981  |   |               | $      | 1,934 |   |   | $ | 5,755 |   |   | $ | 5,692 |   |
|    Investments-taxable:                                                |   |                     |   |   |               |   |   |   |   |   |   |   |   |   |   |   |
|       Securities                                        |   |                     | 187    |   |               |   | 151 |   |   |   | 566 |   |   |   | 587 |   |
|      Mortgage-backed securities                              |   |                     | 86     |   |               |   | 118 |   |   |   | 271 |   |   |   | 394 |   |
|    Other                                                               |   |                     | 15     |   |               |   | 11 |   |   |   | 41 |   |   |   | 22 |   |
|       Total interest income                             |   |                     | 2,269  |   |               |   | 2,214 |   |   |   | 6,633 |   |   |   | 6,695 |   |
|                                                                                  |   |                     |   |   |               |   |   |   |   |   |   |   |   |   |   |   |
| Interest expense:                                                                     |   |                     |   |   |               |   |   |   |   |   |   |   |   |   |   |   |
|    Interest-bearing demand deposits and savings                        |   |                     | 118    |   |               |   | 149 |   |   |   | 338 |   |   |   | 456 |   |
|    Certificate of deposits                                             |   |                     | 327    |   |               |   | 452 |   |   |   | 1,053 |   |   |   | 1,442 |   |
|     Interest on borrowed funds                                    |   |                     | -      |   |               |   | - |   |   |   | - |   |   |   | - |   |
|       Total interest expense                            |   |                     | 445    |   |               |   | 601 |   |   |   | 1,391 |   |   |   | 1,898 |   |
|                                                                                  |   |                     |   |   |               |   |   |   |   |   |   |   |   |   |   |   |
| Net interest income                                                                   |   |                     | 1,824  |   |               |   | 1,613 |   |   |   | 5,242 |   |   |   | 4,797 |   |
| Provision for loan losses                                                             |   |                     | 30     |   |               |   | 15 |   |   |   | 90 |   |   |   | 45 |   |
|                                                                                  |   |                     |   |   |               |   |   |   |   |   |   |   |   |   |   |   |
| Net interest income after provision for loan losses                                   |   |                     | 1,794  |   |               |   | 1,598 |   |   |   | 5,152 |   |   |   | 4,752 |   |
|                                                                                  |   |                     |   |   |               |   |   |   |   |   |   |   |   |   |   |   |
| Noninterest income:                                                                   |   |                     |   |   |               |   |   |   |   |   |   |   |   |   |   |   |
|    Customer service fees                                               |   |                     | 214    |   |               |   | 153 |   |   |   | 546 |   |   |   | 449 |   |
|    Gain (loss) on sale of assets                                       |   |                     | 3      |   |               |   | 3 |   |   |   | 4 |   |   |   | 72 |   |
|    Impairment charge on investment security                            |   |                     | 9      |   |               |   | (2,822 | ) |   |   | - |   |   |   | (2,822 | ) |
|    Other operating income                                              |   |                     | -      |   |               |   | 11 |   |   |   | 44 |   |   |   | 113 |   |
| Total noninterest income                                                              |   |                     | 226    |   |               |   | (2,655 | ) |   |   | 594 |   |   |   | (2,188 | ) |
|                                                                                  |   |                     |   |   |               |   |   |   |   |   |   |   |   |   |   |   |
| Noninterest expense:                                                                  |   |                     |   |   |               |   |   |   |   |   |   |   |   |   |   |   |
|    Salaries and benefits                                               |   |                     | 552    |   |               |   | 579 |   |   |   | 1,685 |   |   |   | 1,737 |   |
|    Occupancy expense                                                   |   |                     | 199    |   |               |   | 191 |   |   |   | 570 |   |   |   | 597 |   |
|    Expense of foreclosed real estate                                   |   |                     | 38     |   |               |   | - |   |   |   | 44 |   |   |   | - |   |
|    FDIC deposit insurance                                              |   |                     | 75     |   |               |   | 95 |   |   |   | 226 |   |   |   | 285 |   |
|    Computer department expenses                                        |   |                     | 39     |   |               |   | 30 |   |   |   | 113 |   |   |   | 97 |   |
|    Professional and supervisory fees                                   |   |                     | 49     |   |               |   | 42 |   |   |   | 130 |   |   |   | 135 |   |
|    Other operating expense                                             |   |                     | 100    |   |               |   | 104 |   |   |   | 317 |   |   |   | 371 |   |
| Total noninterest expense                                                             |   |                     | 1,052  |   |               |   | 1,041 |   |   |   | 3,085 |   |   |   | 3,222 |   |
|                                                                                  |   |                     |   |   |               |   |   |   |   |   |   |   |   |   |   |   |
| Income before income taxes (benefit)                                                  |   |                     | 968    |   |               |   | (2,098 | ) |   |   | 2,661 |   |   |   | (658 | ) |
| Income tax expense (benefit)                                                          |   |                     | 329    |   |               |   | (713 | ) |   |   | 905 |   |   |   | (263 | ) |
| Net income                                                                            |   | $                        | 639    |   |               | $      | (1,385 | ) |   | $ | 1,756 |   |   | $ | (395 | ) |
|                                                                                  |   |                     |   |   |               |   |   |   |   |   |   |   |   |   |   |   |
| Earnings (loss) per share (EPS)-basic                                                 |   | $                        | 0.48   |   |               | $      | (0.30 | ) |   | $ | 1.31 |   |   | $ | (1.04 | ) |
| Diluted EPS                                                                           |   | $                        | 0.45   |   |               | $      | (0.28 | ) |   | $ | 1.24 |   |   | $ | (0.98 | ) |
|                                                                                  |   |                     |   |   |               |   |   |   |   |   |   |   |   |   |   |   |
| The accompanying notes are an integral part of the consolidated financial statements. |   |

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| MINDEN BANCORP. INC. AND SUBSIDIARIES  |
|---------------------------------------------|
| CONSOLIDATED STATEMENTS OF EQUITY           |
| (in thousands, except per share)            |

|                                                               |   | Common Stock |   |   | Additional Paid-In Capital |   |   | Retained Earnings |   |   | Accumulated Other Comprehensive Income |   |   | Unearned MRRP |   |   | Unearned ESOP |   |   | Treasury Stock |   |   | Total  |   |
|--------------------------------------------------------------------|--------|--------------|--------|--------|----------------------------|--------|--------|-------------------|--------|--------|----------------------------------------|--------|--------|---------------|--------|--------|---------------|--------|--------|----------------|--------|--------|--------|--------|
|                                                               |   |         |   |   |                       |   |   |              |   |   |                                   |   |   |          |   |   |          |   |   |           |   |   |   |   |
| Balance December 31, 2008                                          |   |         | 15     |   |                       |   | 16,497 |              |   |   | 7,420                                  |   |   |          | (1,738 | )      |          |   | (23    | )              |   |   | (212   | )      |   |   | (1,855 | ) |   |   | 20,104 |   |
|                                                               |   |         |   |   |                       |   |   |              |   |   |                                   |   |   |          |   |   |          |   |   |           |   |   |   |   |   |   |   |   |   |   |   |   |
| Net Income                                                         |   |         | -      |   |                       |   | -      |              |   |   | 137                                    |   |   |          | -      |   |          |   | -      |           |   |   | -      |   |   |   | - |   |   |   | 137 |   |
| Change in net unrealized gain                                      |   |         |   |   |                       |   |   |              |   |   |                                   |   |   |          |   |   |          |   |   |           |   |   |   |   |   |   |   |   |   |   |   |   |
| on securities available for                                        |   |         |   |   |                       |   |   |              |   |   |                                   |   |   |          |   |   |          |   |   |           |   |   |   |   |   |   |   |   |   |   |   |   |
| sale, net of taxes and reclassification                            |   |         |   |   |                       |   |   |              |   |   |                                   |   |   |          |   |   |          |   |   |           |   |   |   |   |   |   |   |   |   |   |   |   |
| adjustment ($938)                                                  |   |         | -      |   |                       |   | -      |              |   |   | -                                      |   |   |          | 1,820  |   |          |   |   |           |   |   |   |   |   |   |   |   |   |   | 1,820 |   |
| Total Comprehensive income                                         |   |         |   |   |                       |   |   |              |   |   |                                   |   |   |          |   |   |          |   |   |           |   |   |   |   |   |   |   |   |   |   | 1,957 |   |
|                                                               |   |         |   |   |                       |   |   |              |   |   |                                   |   |   |          |   |   |          |   |   |           |   |   |   |   |   |   |   |   |   |   |   |   |
| MRRP shares awarded                                                |   |         | -      |   |                       |   | 59     |              |   |   | -                                      |   |   |          | -      |   |          |   | -      |           |   |   | -      |   |   |   | - |   |   |   | 59 |   |
| Dividends (.43 per share)                                          |   |         | -      |   |                       |   | -      |              |   |   | (243                                   | )      |   |          | -      |   |          |   | -      |           |   |   | -      |   |   |   | - |   |   |   | (243 | ) |
| Amortization of awards under                                       |   |         | -      |   |                       |   |   |              |   |   |                                   |   |   |          |   |   |          |   |   |           |   |   |   |   |   |   |   |   |   |   |   |   |
| MRRP-net of release of MRRP/ESOP                                   |   |         | -      |   |                       |   | 16     |              |   |   | -                                      |   |   |          | -      |   |          |   | -      |           |   |   | -      |   |   |   |   |   |   |   | 16 |   |
| Unearned MRRP/ESOP                                                 |   |         | -      |   |                       |   | -      |              |   |   | -                                      |   |   |          | -      |   |          |   | (55    | )              |   |   | 57     |   |   |   |   |   |   |   | 2 |   |
| Treasury stock sold                                                |   |         | -      |   |                       |   | -      |              |   |   | -                                      |   |   |          | -      |   |          |   | -      |           |   |   | -      |   |   |   | 7 |   |   |   | 7 |   |
|                                                               |   |         |   |   |                       |   |   |              |   |   |                                   |   |   |          |   |   |          |   |   |           |   |   |   |   |   |   |   |   |   |   |   |   |
| Balance December 31, 2009                                          |   |         | 15     |   |                       |   | 16,572 |              |   |   | 7,314                                  |   |   |          | 82     |   |          |   | (78    | )              |   |   | (155   | )      |   |   | (1,848 | ) |   |   | 21,902 |   |
|                                                               |   |         |   |   |                       |   |   |              |   |   |                                   |   |   |          |   |   |          |   |   |           |   |   |   |   |   |   |   |   |   |   |   |   |
| Net Income                                                         |   |         | -      |   |                       |   | -      |              |   |   | 1,756                                  |   |   |          | -      |   |          |   | -      |           |   |   | -      |   |   |   | - |   |   |   | 1,756 |   |
| Change in net unrealized gain                                      |   |         |   |   |                       |   |   |              |   |   |                                   |   |   |          |   |   |          |   |   |           |   |   |   |   |   |   |   |   |   |   |   |   |
| on securities available forsale, net of taxes and reclassification |   |         |   |   |                       |   |   |              |   |   |                                   |   |   |          |   |   |          |   |   |           |   |   |   |   |   |   |   |   |   |   |   |   |
| adjustment $236                                                    |   |         | -      |   |                       |   | -      |              |   |   | -                                      |   |   |          | 458    |   |          |   |   |           |   |   |   |   |   |   |   |   |   |   | 458 |   |
| Total Comprehensive income                                         |   |         |   |   |                       |   |   |              |   |   |                                   |   |   |          |   |   |          |   |   |           |   |   |   |   |   |   |   |   |   |   | 2,214 |   |
|                                                               |   |         |   |   |                       |   |   |              |   |   |                                   |   |   |          |   |   |          |   |   |           |   |   |   |   |   |   |   |   |   |   |   |   |
| Dividends (.33 per share)                                          |   |         | -      |   |                       |   | -      |              |   |   | (187                                   | )      |   |          | -      |   |          |   | -      |           |   |   | -      |   |   |   | - |   |   |   | (187 | ) |
| Amortization of awards under                                       |   |         | -      |   |                       |   |   |              |   |   |                                   |   |   |          |   |   |          |   |   |           |   |   |   |   |   |   |   |   |   |   |   |   |
| MRRP-net of release of MRRP/ESOP                                   |   |         | -      |   |                       |   | -      |              |   |   | -                                      |   |   |          | -      |   |          |   | -      |           |   |   | -      |   |   |   |   |   |   |   | - |   |
| Unearned MRRP/ESOP                                                 |   |         | -      |   |                       |   | -      |              |   |   | -                                      |   |   |          | -      |   |          |   | 16     |           |   |   | 45     |   |   |   |   |   |   |   | 61 |   |
| Treasury stock purchased                                           |   |         | -      |   |                       |   | -      |              |   |   | -                                      |   |   |          | -      |   |          |   | -      |           |   |   | -      |   |   |   | - |   |   |   | - |   |
|                                                               |   |         |   |   |                       |   |   |              |   |   |                                   |   |   |          |   |   |          |   |   |           |   |   |   |   |   |   |   |   |   |   |   |   |
| Balance September 30, 2010                                         |   | $            | 15     |   |                       | $      | 16,572 |              |   | $      | 8,883                                  |   |   | $             | 540    |   |          | $      | (62    | )              |   | $      | (110   | )      |   | $ | (1,848 | ) |   | $ | 23,990 |   |

----

| MINDEN BANCORP. INC. AND SUBSIDIARIES  |
|---------------------------------------------|
|  Consolidated Statements of Cash Flows |
| (in thousands)                              |

|                                                          |   | Nine Months Ended        |    |
|---------------------------------------------------------------|--------|--------------------------|---------|
|                                                          |   |  September 30, 2010 |    |   | September 30, 2009 |   |
|                                                          |   | (Unaudited)              |    |   | (Unaudited) |   |
| Cash flows from operating activities:                         |   |                     |    |   |   |   |
| Net income (loss)                                             |   | $                        | 1,756   |   |   | $ | (395 | ) |
| Adjustments to reconcile net income (loss) to net cash        |   |                     |    |   |   |   |   |   |
| provided by operating activities:                             |   |                     |    |   |   |   |   |   |
| Provision for loan losses                                     |   |                     | 90      |   |   |   | 45 |   |
| Depreciation and amortization                                 |   |                     | 226     |   |   |   | 251 |   |
| Impairment charge on investment security                      |   |                     | -       |   |   |   | 2,822 |   |
| Deferred income taxes                                         |   |                     | -       |   |   |   | (854 | ) |
| MRRP and other expenses                                       |   |                     | 59      |   |   |   | 58 |   |
| Stock dividends                                               |   |                     | (1      | ) |   |   | - |   |
| Net amortization (accretion) of securities                    |   |                     | 49      |   |   |   | 225 |   |
| (Gain) loss on sale of assets                                 |   |                     | (4      | ) |   |   | - |   |
| Loans held for sale-originated                                |   |                     | (3,907  | ) |   |   | - |   |
| Loans held for sale-sold                                      |   |                     | 3,907   |   |   |   | - |   |
| (Increase) decrease in prepaid expenses and accrued income    |   |                     | 144     |   |   |   | 670 |   |
| Increase (decrease) in interest payable and other liabilities |   |                     | 161     |   |   |   | (71 | ) |
| Total adjustments                                             |   |                     | 724     |   |   |   | 3,146 |   |
| Net cash provided by operating activities                     |   |                     | 2,480   |   |   |   | 2,751 |   |
|                                                          |   |                     |    |   |   |   |   |   |
| Cash flows from investing activities:                         |   |                     |    |   |   |   |   |   |
| Maturities and paydowns of securities available for sale      |   |                     | 7,501   |   |   |   | 28,532 |   |
| Purchase of securities available for sale                     |   |                     | (9,919  | ) |   |   | (12,106 | ) |
| Maturities and paydowns of securities held to maturity        |   |                     | 21      |   |   |   | 422 |   |
| Net (increase) decrease in loans                              |   |                     | (10,626 | ) |   |   | (6,075 | ) |
| Purchase of premises and equipment, net                       |   |                     | (33     | ) |   |   | 46 |   |
| Proceeds from sale of FHLB stock and other                    |   |                     | 40      |   |   |   | - |   |
| Proceeds from sale of land                                    |   |                     | 20      |   |   |   | - |   |
| Net cash provided (used) by investing activities              |   |                     | (12,996 | ) |   |   | 10,819 |   |
|                                                          |   |                     |    |   |   |   |   |   |
| Cash flows from financing activities:                         |   |                     |    |   |   |   |   |   |
| Net increase (decrease) in deposits                           |   |                     | 1,939   |   |   |   | (3,231 | ) |
| Treasury stock decrease                                       |   |                     | -       |   |   |   | 7 |   |
| Dividends paid                                                |   |                     | (187    | ) |   |   | (181 | ) |
| Conversion cost                                               |   |                     | (190    | ) |   |   | - |   |
| Net cash provided (used) by financing activities              |   |                     | 1,562   |   |   |   | (3,405 | ) |

----

|                                        |
|---------------------------------------------|
| MINDEN BANCORP. INC. AND SUBSIDIARIES  |
|  Consolidated Statements of Cash Flows |
| (in thousands)                              |

|                                                                                                   |   | Nine Months Ended        |   |
|--------------------------------------------------------------------------------------------------------|--------|--------------------------|--------|
|                                                                                                   |   |  September 30, 2010 |   |   | September 30, 2009 |   |
|                                                                                                   |   | (Unaudited)              |   |   | (Unaudited) |   |
|                                                                                                   |   |                     |   |   |   |   |
| Net increase (decrease) in cash and cash equivalents                                                   |   |                     | (8,954 | ) |   |   | 10,165 |   |
|                                                                                                   |   |                     |   |   |   |   |   |   |
| Cash and cash equivalents at beginning of period                                                       |   |                     | 33,514 |   |   |   | 22,603 |   |
|                                                                                                   |   |                     |   |   |   |   |   |   |
| Cash and cash equivalents at end of period                                                             |   | $                        | 24,560 |   |   | $ | 32,768 |   |
|                                                                                                   |   |                     |   |   |   |   |   |   |
| Supplemental disclosures:                                                                              |   |                     |   |   |   |   |   |   |
| Interest paid on deposits and borrowed funds                                                           |   | $                        | 1,456  |   |   | $ | 2,025 |   |
| Income taxes paid                                                                                      |   | $                        | 888    |   |   | $ | 717 |   |
|                                                                                                   |   |                     |   |   |   |   |   |   |
| Noncash investing and financing activities:                                                            |   |                     |   |   |   |   |   |   |
|     Transfer of loans to real estate owned                                         |   | $                        | 309    |   |   | $ | 48 |   |
|                                                                                                   |   |                     |   |   |   |   |   |   |
|     Increase (decrease) in unrealized gain (loss) on securities available for sale |   | $                        | 695    |   |   | $ | 2,768 |   |

----

----

----

----

----

----

|   |   |  September 30, 2010 |                    |
|--------|--------|--------------------------|-------------------------|
|   |   |                     |                    |   |   |   |   |   |   |   |   |   |
|   |   |                     |                    |   | Gross |   | Gross |   |   | Estimated |   |
|   |   | Amortized                |                    |   | Unrealized |   | Unrealized |   |   | Market |   |
|   |   | Cost                     |                    |   | Gains |   | Losses |   |   | Value |   |
|   |   |                     |                    |   |   |   |   |   |   |   |   |   |
| GNMA   |   | $                        | 8                       |   |   | $ | - |   |   | $ | - |   |   | $ | 8 |   |
| FNMA   |   |                     | 112                     |   |   |   | 2 |   |   |   | - |   |   |   | 114 |   |
| FHLMC  |   |                     | 25                      |   |   |   | 1 |   |   |   | - |   |   |   | 26 |   |
|   |   | $                        | 145                     |   |   | $ | 3 |   |   | $ | - |   |   | $ | 148 |   |
|   |   |                     |                    |   |   |   |   |   |   |   |   |   |   |   |   |   |
|   |   |                     |  December 31, 2009 |   |
|   |   |                     |                    |   |   |   |   |   |   |   |   |   |   |   |   |   |
|   |   |                     |                    |   |   | Gross |   | Gross |   |   | Estimated |   |
|   |   | Amortized                |                    |   | Unrealized |   | Unrealized |   |   | Market |   |
|   |   | Cost                     |                    |   | Gains |   | Losses |   |   | Value |   |
|   |   |                     |                    |   |   |   |   |   |   |   |   |   |   |   |   |   |
| GNMA   |   | $                        | 27                      |   |   | $ | - |   |   | $ | - |   |   | $ | 27 |   |
| FNMA   |   |                     | 130                     |   |   |   | 2 |   |   |   | - |   |   |   | 132 |   |
| FHLMC  |   |                     | 9                       |   |   |   | - |   |   |   | - |   |   |   | 9 |   |
|   |   | $                        | 166                     |   |   | $ | 2 |   |   | $ | - |   |   | $ | 168 |   |

----

|                         |   |  September 30, 2010 |                    |
|------------------------------|--------|--------------------------|-------------------------|
|                         |   |                     |                    |   |   |   |   |   |   |   |   |   |
|                         |   |                     |                    |   | Gross |   | Gross |   |   | Estimated |   |
|                         |   | Amortized                |                    |   | Unrealized |   | Unrealized |   |   | Fair |   |
|                         |   | Cost                     |                    |   | Gains |   | Losses |   |   | Value |   |
|                         |   |                     |                    |   |   |   |   |   |   |   |   |   |
| Asset Management Funds (AMF) |   | $                        | 7,038                   |   |   | $ | 183 |   |   | $ | - |   |   | $ | 7,221 |   |
| FHLMC Voting Common Stock    |   |                     | 11                      |   |   |   | - |   |   |   | 7 |   |   |   | 4 |   |
|                         |   |                     |                    |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Municipals                   |   |                     | 230                     |   |   |   | 6 |   |   |   | - |   |   |   | 236 |   |
| Agency Bonds (FNMA/FHLB)     |   |                     | 32,373                  |   |   |   | 339 |   |   |   | 14 |   |   |   | 32,698 |   |
| FNMA ARM pools               |   |                     | 4,803                   |   |   |   | 102 |   |   |   | 5 |   |   |   | 4,900 |   |
| FHLMC ARM pools              |   |                     | 1,917                   |   |   |   | 53 |   |   |   | - |   |   |   | 1,970 |   |
| GNMA ARM pools               |   |                     | 6,503                   |   |   |   | 162 |   |   |   | - |   |   |   | 6,665 |   |
|                         |   | $                        | 52,875                  |   |   | $ | 845 |   |   | $ | 26 |   |   | $ | 53,694 |   |
|                         |   |                     |                    |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                         |   |                     |  December 31, 2009 |   |
|                         |   |                     |                    |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                         |   |                     |                    |   |   | Gross |   | Gross |   |   | Estimated |   |
|                         |   | Amortized                |                    |   | Unrealized |   | Unrealized |   |   | Fair |   |
|                         |   | Cost                     |                    |   | Gains |   | Losses |   |   | Value |   |
|                         |   |                     |                    |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Asset Management Funds       |   | $                        | 7,780                   |   |   | $ | - |   |   | $ | - |   |   | $ | 7,780 |   |
| FHLMC Voting Common Stock    |   |                     | 11                      |   |   |   | 5 |   |   |   | - |   |   |   | 16 |   |
| Municipals                   |   |                     | 230                     |   |   |   | 10 |   |   |   | - |   |   |   | 240 |   |
| Agency Bonds (FNMA/FHLB)     |   |                     | 28,608                  |   |   |   | 6 |   |   |   | 86 |   |   |   | 28,528 |   |
| FNMA ARM pools               |   |                     | 4,360                   |   |   |   | 39 |   |   |   | 10 |   |   |   | 4,389 |   |
| FHLMC ARM pools              |   |                     | 2,218                   |   |   |   | 26 |   |   |   | 3 |   |   |   | 2,241 |   |
| GNMA ARM pools               |   |                     | 7,299                   |   |   |   | 137 |   |   |   | - |   |   |   | 7,436 |   |
|                         |   | $                        | 50,506                  |   |   | $ | 223 |   |   | $ | 99 |   |   | $ | 50,630 |   |

----

|                        |   | Available for Sale |   |   | Held to Maturity |   |
|-----------------------------|--------|--------------------|--------|--------|------------------|--------|
|                        |   | Amortized          |   |   | Fair             |   |   | Amortized |   |   | Fair |   |
|                        |   | Cost               |   |   | Value            |   |   | Cost |   |   | Value |   |
|                        |   |               |   |   |             |   |   |   |   |   |   |   |
| One year or less            |   | $                  | 12,588 |   |             | $      | 12,786 |   |   | $ | - |   |   | $ | - |   |
| After 1 year thru 5 years   |   |               | 26,823 |   |             |   | 27,132 |   |   |   | 21 |   |   |   | 21 |   |
| After 5 years thru 10 years |   |               | 1,511  |   |             |   | 1,565 |   |   |   | 31 |   |   |   | 31 |   |
| After 10 years              |   |               | 11,953 |   |             |   | 12,211 |   |   |   | 93 |   |   |   | 96 |   |
|                        |   | $                  | 52,875 |   |             | $      | 53,694 |   |   | $ | 145 |   |   | $ | 148 |   |

|                       |   | Less than 12 Months |   |   | 12 Months or Greater  |   |   | Total     |   |
|----------------------------|--------|---------------------|--------|--------|-----------------------|--------|--------|-----------|--------|
|                       |   | FairValue           |   |   | GrossUnrealizedLosses |   |   | FairValue |   |   | GrossUnrealizedLosses |   |   | FairValue |   |   | GrossUnrealizedLosses |   |
|  September 30, 2010:  |   |                |   |   |                  |   |   |      |   |   |   |   |   |   |   |   |   |   |
| Federal agencies           |   | $                   | 2,015  |   |                  | $      | 14     |      |   | $ | 4 |   |   | $ | 7 |   |   | $ | 2,019 |   |   | $ | 21 |   |
| Mortgage backed securities |   |                | -      |   |                  |   | -      |      |   |   | 459 |   |   |   | 5 |   |   |   | 459 |   |   |   | 5 |   |
|                       |   | $                   | 2,015  |   |                  | $      | 14     |      |   | $ | 463 |   |   | $ | 12 |   |   | $ | 2,478 |   |   | $ | 26 |   |
|                       |   |                |   |   |                  |   |   |      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| December 31, 2009:         |   |                |   |   |                  |   |   |      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Federal agencies           |   | $                   | 12,963 |   |                  | $      | 86     |      |   | $ | - |   |   | $ | - |   |   | $ | 12,963 |   |   | $ | 86 |   |
| Mortgage backed securities |   |                | 140    |   |                  |   | -      |      |   |   | 1,469 |   |   |   | 13 |   |   |   | 1,608 |   |   |   | 13 |   |
|                       |   | $                   | 13,103 |   |                  | $      | 86     |      |   | $ | 1,469 |   |   | $ | 13 |   |   | $ | 14,571 |   |   | $ | 99 |   |

----

|                                                                                               |   | 2010   |    |   | 2009   |   |
|----------------------------------------------------------------------------------------------------|--------|--------|---------|--------|--------|--------|
|                                                                                               |   |   |    |   |   |   |
| First mortgage conventional loans:                                                                 |   |   |    |   |   |   |
| Secured by one-to-four-family residences                                                           |   | $      | 56,153  |   |   | $      | 54,363 |   |
| Commercial real estate                                                                             |   |   | 21,273  |   |   |   | 17,946 |   |
| Commercial, other than real estate                                                                 |   |   | 12,558  |   |   |   | 10,190 |   |
| Land                                                                                               |   |   | 10,580  |   |   |   | 10,929 |   |
| Consumer loans (including overdrafts of $294 and $33)                                              |   |   | 12,227  |   |   |   | 12,688 |   |
| Loans secured by deposits                                                                          |   |   | 11,795  |   |   |   | 8,706 |   |
| Construction loans                                                                                 |   |   | 5,249   |   |   |   | 4,129 |   |
| Total                                                                                              |   |   | 129,835 |   |   |   | 118,952 |   |
|                                                                                               |   |   |    |   |   |   |   |   |
| Less: Allowance for loan losses                                                                    |   |   | (1,011  | )      |   |   | (1,001 | ) |
|           Unfunded construction loan commitments |   |   | (1,224  | )      |   |   | (887 | ) |
|                                                                                               |   |   |    |   |   |   |   |   |
|            Loans, net                            |   | $      | 127,600 |   |   | $      | 117,064 |   |

----

|                                |   | 2010   |   |   | 2009   |   |
|-------------------------------------|--------|--------|--------|--------|--------|--------|
|                                |   |   |   |   |   |   |
| Balance, beginning of period        |   |   | 1,001  |   |   |   | 1,000 |   |
| Provision for loan losses           |   |   | 90     |   |   |   | 60 |   |
| Recoveries                          |   |   | 26     |   |   |   | 5 |   |
| Loans charged off-net of recoveries |   |   | (106   | )      |   |   | (64 | ) |
| Balance, end of period              |   |   | 1,011  |   |   |   | 1,001 |   |

|                         |   | 2010   |   |   | 2009   |   |
|------------------------------|--------|--------|--------|--------|--------|--------|
|                         |   |   |   |   |   |   |
| Cash value of life insurance |   | $      | 559    |   |   | $      | 540 |   |
| Prepaid expenses             |   |   | 827    |   |   |   | 996 |   |
| Deferred income taxes        |   |   | 380    |   |   |   | 616 |   |
| Other real estate-MSI        |   |   | 175    |   |   |   | 195 |   |
| Conversion cost/other        |   |   | 226    |   |   |   | - |   |
|                         |   | $      | 2,167  |   |   | $      | 2,347 |   |

----

|                                                                                   |   | 2010   |    |   | 2009   |   |
|----------------------------------------------------------------------------------------|--------|--------|---------|--------|--------|--------|
|                                                                                   |   |   |    |   |   |   |
| Demand deposit accounts (including official checks of $803 in 2010 and $1,447 in 2009) |   | $      | 98,753  |   |   | $      | 99,335 |   |
| Passbook savings                                                                       |   |   | 13,110  |   |   |   | 12,305 |   |
| Certificates of deposit:                                                               |   |   |    |   |   |   |   |   |
| 1.00% – 1.99%                                                                    |   |   | 69,224  |   |   |   | 36,884 |   |
| 2.00% – 2.99%                                                                    |   |   | 6,582   |   |   |   | 34,291 |   |
| 3.00% – 3.99%                                                                    |   |   | 1,666   |   |   |   | 4,564 |   |
| 4.00% – 4.99%                                                                    |   |   | 370     |   |   |   | 387 |   |
| 5.00% – 5.99%                                                                    |   |   | -       |   |   |   | - |   |
| Total certificates of deposit                                                          |   |   | 77,842  |   |   |   | 76,126 |   |
| Total deposits                                                                         |   | $      | 189,705 |   |   | $      | 187,766 |   |

|                |   | 2011   |   |   | 2012   |   |   | 2013   |   |   | Total  |         |
|---------------------|--------|--------|--------|--------|--------|--------|--------|--------|--------|--------|--------|--------------|
|                |   |   |   |   |   |   |   |   |   |   |   |         |
| Maturing 2010       |   |   |   |   |   |   |   |   |   |   |   |  25,779 |   |
| 1.00% – 1.99% |   | $      | 40,480 |   |   | $      | 4,922  |   |   | $      | -      |         |   | $ | 45,402 |   |
| 2.00% – 2.99% |   |   | 4,882  |   |   |   | 387    |   |   |   | 596    |         |   |   | 5,865 |   |
| 3.00% – 3.99% |   |   | 451    |   |   |   | -      |   |   |   | -      |         |   |   | 451 |   |
| 4.00% – 4.99% |   |   | 345    |   |   |   | -      |   |   |   | -      |         |   |   | 345 |   |
|                |   | $      | 46,158 |   |   | $      | 5,309  |   |   | $      | 596    |         |   | $ | 77,842 |   |

----

----

|                                                                                                                                         |   |   |   |   |               |   |   |               |   |     |              |   |   | To be Well        |   |
|----------------------------------------------------------------------------------------------------------------------------------------------|--------|--------|--------|--------|--------------------|--------|--------|--------------------|--------|----------|-------------------|--------|--------|-------------------|--------|
|                                                                                                                                         |   |   |   |   |               |   |   |               |   |     |              |   |   | Capitalized Under |   |
|                                                                                                                                         |   |   |   |   |               |   |   | For Capital        |   |     | Prompt Corrective |   |
|                                                                                                                                         |   | Actual |   |   | Adequacy Purposes: |   |   | Action Provisions: |   |
|                                                                                                                                         |   | Amount |   |   | Ratio              |   |   | Amount             |   |     | Ratio             |   |   | Amount            |   |   | Ratio |   |
|                                                                                                                                         |   |   |   |   |               |   |   |               |   |     |              |   |   |              |   |   |   |   |
| As of September 30, 2010                                                                                                                     |   |   |   |   |               |   |   |               |   |     |              |   |   |              |   |   |   |   |
| Total capital (to Risk                                                                                                                       |   |   |   |   |               |   |   |               |   |     |              |   |   |              |   |   |   |   |
| Weighted Assets)                                                                                                                             |   | $      | 23,473 |   |               |   | 21.30  | %                  |   | ≥$ | 8,818             |   |   |  ≥     | 8.0    | % |   | ≥$ | 11,023 |   |   |  ≥ | 10.0 | % |
| Core (Tier I) Capital (to                                                                                                                    |   |   |   |   |               |   |   |               |   |     |              |   |   |              |   |   |   |   |   |   |   |   |   |   |
| Risk Weighted Assets)                                                                                                                        |   | $      | 22,383 |   |               |   | 20.31  | %                  |   |     | N/A               |   |   |              | N/A    |   |   | ≥$ | 6,614 |   |   |  ≥ | 6.0 | % |
| Core (Tier I) Capital (to                                                                                                                    |   |   |   |   |               |   |   |               |   |     |              |   |   |              |   |   |   |   |   |   |   |   |   |   |
| Total Assets)                                                                                                                                |   | $      | 22,383 |   |               |   | 10.47  | %                  |   | ≥$ | 4,409             |   |   |  ≥     | 4.0    | % |   | ≥$ | 10,693 |   |   |  ≥ | 5.0 | % |
| Tangible Capital                                                                                                                             |   |   |   |   |               |   |   |               |   |     |              |   |   |              |   |   |   |   |   |   |   |   |   |   |
| (to Total Assets)                                                                                                                            |   | $      | 22,383 |   |               |   | 10.47  | %                  |   | ≥$ | 3,207             |   |   |  ≥     | 1.5    | % |   |   | N/A |   |   |   | N/A |   |
|                                                                                                                                         |   |   |   |   |               |   |   |               |   |     |              |   |   |              |   |   |   |   |   |   |   |   |   |   |
| As of December 31, 2009                                                                                                                      |   |   |   |   |               |   |   |               |   |     |              |   |   |              |   |   |   |   |   |   |   |   |   |   |
| Total capital (to Risk                                                                                                                       |   |   |   |   |               |   |   |               |   |     |              |   |   |              |   |   |   |   |   |   |   |   |   |   |
| Weighted Assets)                                                                                                                             |   | $      | 21,598 |   |               |   | 19.04  | %                  |   | ≥$ | 9,075             |   |   |  ≥     | 8.0    | % |   | ≥$ | 11,343 |   |   |  ≥ | 10.0 | % |
| Core (Tier I) Capital (to                                                                                                                    |   |   |   |   |               |   |   |               |   |     |              |   |   |              |   |   |   |   |   |   |   |   |   |   |
| Risk Weighted Assets)                                                                                                                        |   | $      | 20,595 |   |               |   | 18.16  | %                  |   | ≥$ | 4,538             |   |   |  ≥     | 4.0    | % |   | ≥$ | 6,806 |   |   |  ≥ | 6.0 | % |
| Core (Tier I) Capital (to                                                                                                                    |   |   |   |   |               |   |   |               |   |     |              |   |   |              |   |   |   |   |   |   |   |   |   |   |
| Total Assets)                                                                                                                                |   | $      | 20,595 |   |               |   | 9.78   | %                  |   | ≥$ | 3,404             |   |   |  ≥     | 3.0    | % |   | ≥$ | 5,672 |   |   |  ≥ | 5.0 | % |
| Tangible Capital                                                                                                                             |   |   |   |   |               |   |   |               |   |     |              |   |   |              |   |   |   |   |   |   |   |   |   |   |
| (to Total Assets)                                                                                                                            |   | $      | 20,595 |   |               |   | 9.78   | %                  |   | ≥$ | 1,702             |   |   |  ≥     | 1.5    | % |   |   | N/A |   |   |   | N/A |   |
|                                                                                                                                         |   |   |   |   |               |   |   |               |   |     |              |   |   |              |   |   |   |   |   |   |   |   |   |   |
| The following is a reconciliation of the Bank’s equity under GAAP to regulatory capital at the dates indicated (dollars in thousands): |   |

|                            |   | September 30, |   | December 31, |   |
|---------------------------------|--------|---------------|--------|--------------|--------|
|                            |   |          | 2010   |         |   |   | 2009 |   |
|                            |   |          |   |         |   |   |   |   |
| GAAP equity                     |   | $             | 23,179 |         |   | $ | 20,595 |   |
| Allowance for loan losses/other |   |          | 294    |         |   |   | 1,003 |   |
| Total capital                   |   | $             | 23,473 |         |   | $ | 21,598 |   |

----

----

|                                |   | September 30, |    |   | December 31, |   |
|-------------------------------------|--------|---------------|---------|--------|--------------|--------|
|                                |   | 2010          |    |   | 2009         |   |
|                                |   | Carrying      |    |   | Fair         |   |   | Carrying |   |   | Fair |   |
|                                |   | Amount        |    |   | Value        |   |   | Amount |   |   | Value |   |
|                                |   |          |    |   |         |   |   |   |   |   |   |   |
| Financial assets:                   |   |          |    |   |         |   |   |   |   |   |   |   |
| Cash and cash equivalents           |   | $             | 24,650  |   |         | $      | 24,650 |   |   | $ | 33,514 |   |   | $ | 33,514 |   |
| Securities available for sale       |   |          | 53,694  |   |         |   | 53,694 |   |   |   | 50,630 |   |   |   | 50,630 |   |
| Securities held to maturity         |   |          | 145     |   |         |   | 148 |   |   |   | 166 |   |   |   | 168 |   |
| FNBB & FHLB stock               |   |          | 449     |   |         |   | 448 |   |   |   | 448 |   |   |   | 448 |   |
| Loans, net                          |   |          | 127,600 |   |         |   | 129,330 |   |   |   | 117,064 |   |   |   | 118,656 |   |
| Accrued interest receivable         |   |          | 709     |   |         |   | 709 |   |   |   | 739 |   |   |   | 739 |   |
|                                |   |          |    |   |         |   |   |   |   |   |   |   |   |   |   |   |
| Financial liabilities:              |   |          |    |   |         |   |   |   |   |   |   |   |   |   |   |   |
| Deposits                            |   |          | 189,705 |   |         |   | 189,705 |   |   |   | 187,766 |   |   |   | 187,766 |   |
| Accrued interest payable            |   |          | 326     |   |         |   | 326 |   |   |   | 364 |   |   |   | 364 |   |
|                                |   |          |    |   |         |   |   |   |   |   |   |   |   |   |   |   |
| Off-balance sheet credit related to |   |          |    |   |         |   |   |   |   |   |   |   |   |   |   |   |
| financial instruments:              |   |          |    |   |         |   |   |   |   |   |   |   |   |   |   |   |
| Commitments to extend credit        |   |          | 12,961  |   |         |   | 12,961 |   |   |   | 9,170 |   |   |   | 9,170 |   |

| ●     | Level 1 valuations, where the valuation is based on quoted market prices for identical assets or liabilities traded in active markets (which include exchanges and over-the-counter markets with sufficient volume), |
|----------------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ●     | Level 2 valuations, where the valuation is based on quoted market prices for similar instruments traded in active markets, quoted prices for identical or similar instruments in markets that are not active and model-based valuation techniques for which all significant assumptions are observable in the market, and |
|----------------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ●     | Level 3 valuations, where the valuation is generated from model-based techniques that use significant assumptions not observable in the market, but observable based on the Company’s-specific data.  These unobservable assumptions reflect the Company’s own estimates for assumptions that market participants would use in pricing the asset or liability.  Valuation techniques typically include option pricing models, discounted cash flow models and similar techniques, but may also include the use of market prices of assets or liabilities that are not directly comparable to the subject asset or liability. |
|----------------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|                          |   | Level 1 |   |   | Level 2 |   |   | Level 3 |   |   | Fair Value |   |
|-------------------------------|--------|---------|--------|--------|---------|--------|--------|---------|--------|--------|------------|--------|
| September 30, 2010:           |   |    |   |   |    |   |   |    |   |   |       |   |
| Securities available for sale |   | $       | -      |   |    | $      | 53,694 |    |   | $      | -          |   |   | $ | 53,694 |   |
|                          |   |    |   |   |    |   |   |    |   |   |       |   |   |   |   |   |
| December 31, 2009:            |   |    |   |   |    |   |   |    |   |   |       |   |   |   |   |   |
| Securities available for sale |   |    | -      |   |    |   | 50,630 |    |   |   | -          |   |   |   | 50,630 |   |
|                          |   |    |   |   |    |   |   |    |   |   |       |   |   |   |   |   |

----

|                                                 |   | Total Options  |   |
|------------------------------------------------------|--------|----------------|--------|
|                                                 |   | NumberofShares |   |   | AverageExercisePrice |   |   | AverageIntrinsicValue |   |
|  Outstanding-December 31, 2007                  |   |           | 48,280 |   |   | $ | 15.375 |   |   |   |   |
| Granted                                              |   |           | 2,805  |   |   | $ | 20.85 |   |   |   |   |
| Outstanding-December 31, 2008                        |   |           | 51,085 |   |   | $ | 15.68 |   |   |   |   |
| Granted                                              |   |           | 11,974 |   |   | $ | 11.00 |   |   |   |   |
| Outstanding-September 30, 2010 and December 31, 2009 |   |           | 63,059 |   |   | $ | 14.79 |   |   | $ | 220,707 |   |
| Options exercisable at period end                    |   |           | 51,797 |   |   |   |   |   |   | $ | 181,290 |   |

|                         |   |  Options Outstanding |   |
|------------------------------|--------|---------------------------|--------|
|                         |   |                      |   | Weighted |   | Weighted |   |
|                         |   |                      |   | Average |   | Average |   |
| Range of                     |   | Number                    |   | Remaining |   | Exercise |   |
|   Exercise Prices       |   | Outstanding               |   | Contractual Life |   | Price |   |
|                         |   |                      |   |   |   |   |   |
| $15.375                      |   |                      | 48,280 |   | 3 years |   | $ | 15.375 |   |
| $10.01 - $15.00              |   |                      | 11,974 |   | 8 years |   | $ | 11.00 |   |
| $20.01 and above             |   |                      | 2,805  |   | 7 years |   | $ | 20.85 |   |
|                         |   |                      |   |   |   |   |   |   |   |
| Outstanding at end of period |   |                      | 63,059 |   | 4.2 years |   | $ | 14.79 |   |

----

|                                  |   |      |   |   | Weighted        |   |
|---------------------------------------|--------|-----------|--------|--------|-----------------|--------|
|                                  |   | Number of |   |   | Grant Date Fair |   |
|                                  |   | Shares    |   |   | Value           |   |
|                                  |   |      |   |   |            |   |
| Nonvested options, December 31, 2009  |   |      | 14,218 |   |            | $      | 12.87 |   |
| Vested                                |   |      | (2,956 | )      |            | $      | 12.87 |   |
| Nonvested options, September 30, 2010 |   |      | 11,262 |   |            | $      | 12.87 |   |

----

----

----

----

----

----

|                                                                    |   |                           |   |   | Three Months Ended September 30, |   |
|-------------------------------------------------------------------------|--------|--------------------------------|--------|--------|----------------------------------|--------|
|                                                                    |   |                           |   |   | 2010                             |   |   | 2009 |   |
|                                                                    |   | Yield/RateAt September30, 2010 |   |   | AverageBalance                   |   |   | Interest |   |   | AverageYield/Rate(1) |   |   | AverageBalance |   |   | Interest |   |   | AverageYield/Rate |   |
| Interest-earning assets:                                                |   |  (Dollars in thousands)   |   |
| Loans receivable(1)                                                     |   |                           | 6.01   | %      |                             | $      | 125,826 |   |   | $ | 1,981 |   |   |   | 6.30 | % |   | $ | 118,253 |   |   | $ | 1,934 |   |   |   | 6.54 | % |
| Investment securities                                                   |   |                           | 2.07   |   |                             |   | 50,582 |   |   |   | 273 |   |   |   | 2.16 |   |   |   | 37,099 |   |   |   | 272 |   |   |   | 2.93 |   |
| Other interest-earning assets                                           |   |                           | 0.24   |   |                             |   | 19,617 |   |   |   | 15 |   |   |   | 0.31 |   |   |   | 20,059 |   |   |   | 8 |   |   |   | .16 |   |
| Total interest-earning assets                                           |   |                           | 4.34   | %      |                             |   | 196,025 |   |   |   | 2,269 |   |   |   | 4.63 | % |   |   | 175,411 |   |   |   | 2,214 |   |   |   | 5.05 | % |
| Non-interest-earning assets                                             |   |                           |   |   |                             |   | 10,772 |   |   |   |   |   |   |   |   |   |   |   | 10,759 |   |   |   |   |   |   |   |   |   |
| Total assets                                                            |   |                           |   |   |                             |   | 206,797 |   |   |   |   |   |   |   |   |   |   |   | 186,170 |   |   |   |   |   |   |   |   |   |
| Interest-bearing liabilities:                                           |   |                           |   |   |                             |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Savings, NOW and money market accounts                                  |   |                           | 0.50   |   |                             |   | 86,615 |   |   |   | 118 |   |   |   | 0.54 |   |   |   | 70,488 |   |   |   | 149 |   |   |   | 0.85 |   |
| Certificates of deposit                                                 |   |                           | 1.80   |   |                             |   | 75,215 |   |   |   | 327 |   |   |   | 1.74 |   |   |   | 74,672 |   |   |   | 452 |   |   |   | 2.02 |   |
| Total deposits                                                          |   |                           | 1.10   |   |                             |   | 161,830 |   |   |   | 445 |   |   |   | 1.10 |   |   |   | 145,160 |   |   |   | 601 |   |   |   | 1.66 |   |
| Other borrowings                                                        |   |                           | --     |   |                             |   | -- |   |   |   | -- |   |   |   | -- |   |   |   | -- |   |   |   | -- |   |   |   | -- |   |
| Total interest-bearing liabilities                                      |   |                           | 1.10   | %      |                             |   | 161,830 |   |   |   | 445 |   |   |   | 1.10 | % |   |   | 145,160 |   |   |   | 601 |   |   |   | 1.66 | % |
| Non-interest-bearing liabilities                                        |   |                           |   |   |                             |   | 21,445 |   |   |   |   |   |   |   |   |   |   |   | 19,528 |   |   |   |   |   |   |   |   |   |
| Total liabilities                                                       |   |                           |   |   |                             |   | 183,275 |   |   |   |   |   |   |   |   |   |   |   | 164,688 |   |   |   |   |   |   |   |   |   |
|  Stockholders’ equity(2)                                     |   |                           |   |   |                             |   | 23,522 |   |   |   |   |   |   |   |   |   |   |   | 21,482 |   |   |   |   |   |   |   |   |   |
| Total liabilities and stockholders’ equity(1)                     |   |                           |   |   |                             | $      | 206,797 |   |   |   |   |   |   |   |   |   |   | $ | 186,170 |   |   |   |   |   |   |   |   |   |
| Net interest-earning assets                                             |   |                           |   |   |                             | $      | 34,195 |   |   |   |   |   |   |   |   |   |   | $ | 30,251 |   |   |   |   |   |   |   |   |   |
| Net interest income; average interest rate spread                       |   |                           | 3.24   | %      |                             |   |   |   |   | $ | 1,824 |   |   |   | 3.53 | % |   |   |   |   |   | $ | 1,613 |   |   |   | 3.39 | % |
| Net interest margin(3)                                                  |   |                           |   |   |                             |   |   |   |   |   |   |   |   |   | 3.72 | % |   |   |   |   |   |   |   |   |   |   | 3.68 | % |
| Average interest-earning assets to average interest-bearing liabilities |   |                           |   |   |                             |   |   |   |   |   |   |   |   |   | 121.13 | % |   |   |   |   |   |   |   |   |   |   | 120.84 | % |

----

| (1) | Includes loans held for sale for the 2010 period. |
|-----|---------------------------------------------------|

| (2) | Includes retained earnings and other comprehensive income (loss). |
|-----|-------------------------------------------------------------------|

| (3) | Equals net interest income divided by average interest-earning assets. |
|-----|------------------------------------------------------------------------|

----

|                                                                    |   | Nine Months Ended September 30, |    |
|-------------------------------------------------------------------------|--------|---------------------------------|---------|
|                                                                    |   | 2010                            |    |   | 2009 |   |
|                                                                    |   | AverageBalance                  |    |   | Interest |   |   | AverageYield/Rate(1) |   |   |   | AverageBalance |   |   |   | Interest |   |   |   | AverageYield/Rate |   |
| Interest-earning assets:                                                |   | (Dollars in thousands)          |    |
| Loans receivable(1)                                                     |   | $                               | 123,296 |   |   | $ | 5,755 |   |   |   | 6.22 | % |   | $ | 116,795 |   |   | $ | 5,692 |   |   |   | 6.50 | % |
| Investment securities                                                   |   |                            | 54,840  |   |   |   | 837 |   |   |   | 2.04 |   |   |   | 45,126 |   |   |   | 985 |   |   |   | 2.91 |   |
| Other interest-earning assets                                           |   |                            | 20,159  |   |   |   | 41 |   |   |   | 0.27 |   |   |   | 11,749 |   |   |   | 18 |   |   |   | 0.20 |   |
| Total interest-earning assets                                           |   |                            | 198,295 |   |   |   | 6,633 |   |   |   | 4.46 | % |   |   | 173,670 |   |   |   | 6,695 |   |   |   | 5.14 | % |
| Non-interest-earning assets                                             |   |                            | 11,723  |   |   |   |   |   |   |   |   |   |   |   | 11,413 |   |   |   |   |   |   |   |   |   |
| Total assets                                                            |   |                            | 210,018 |   |   |   |   |   |   |   |   |   |   |   | 185,083 |   |   |   |   |   |   |   |   |   |
| Interest-bearing liabilities:                                           |   |                            |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Savings, NOW and money market accounts                                  |   |                            | 81,804  |   |   |   |  338 |   |   |   | 0.55 |   |   |   | 70,721 |   |   |   |  456 |   |   |   | 0.86 |   |
| Certificates of deposit                                                 |   |                            | 76,061  |   |   |   | 1,053 |   |   |   | 1.85 |   |   |   | 71,841 |   |   |   | 1,442 |   |   |   | 2.68 |   |
| Total deposits                                                          |   |                            | 157,865 |   |   |   | 1,391 |   |   |   | 1.18 |   |   |   | 142,562 |   |   |   | 1,898 |   |   |   | 1.78 |   |
| Other borrowings                                                        |   |                            | --      |   |   |   | -- |   |   |   | -- |   |   |   | -- |   |   |   | -- |   |   |   | -- |   |
| Total interest-bearing liabilities                                      |   |                            | 157,865 |   |   |   | 1,391 |   |   |   | 1.18 | % |   |   | 142,562 |   |   |   | 1,898 |   |   |   | 1.78 | % |
| Non-interest-bearing liabilities                                        |   |                            | 29,591  |   |   |   |   |   |   |   |   |   |   |   | 21,613 |   |   |   |   |   |   |   |   |   |
| Total liabilities                                                       |   |                            | 187,456 |   |   |   |   |   |   |   |   |   |   |   | 164,175 |   |   |   |   |   |   |   |   |   |
|  Stockholders’ equity(2)                                     |   |                            | 22,562  |   |   |   |   |   |   |   |   |   |   |   | 20,908 |   |   |   |   |   |   |   |   |   |
| Total liabilities and stockholders’ equity(1)                     |   | $                               | 210,018 |   |   |   |   |   |   |   |   |   |   | $ | 185,083 |   |   |   |   |   |   |   |   |   |
|   Net interest-earning assets                                 |   | $                               | 40,430  |   |   |   |   |   |   |   |   |   |   | $ | 31,108 |   |   |   |   |   |   |   |   |   |
|   Net interest income; average interest rate spread           |   |                            |    |   |   | $ | 5,242 |   |   |   | 3.28 | % |   |   |   |   |   | $ | 4,797 |   |   |   | 3.36 | % |
|   Net interest margin(3)                                      |   |                            |    |   |   |   |   |   |   |   | 3.52 | % |   |   |   |   |   |   |   |   |   |   | 3.68 | % |
| Average interest-earning assets to average interest-bearing liabilities |   |                            |    |   |   |   |   |   |   |   | 125.61 | % |   |   |   |   |   |   |   |   |   |   | 121.82 | % |

----

| (1) | Includes loans held for sale for the 2010 period. |
|-----|---------------------------------------------------|

| (2) | Includes retained earnings and other comprehensive income (loss). |
|-----|-------------------------------------------------------------------|

| (3) | Equals net interest income divided by average interest-earning assets. |
|-----|------------------------------------------------------------------------|

----

----

| No.  |   | Description                                                           |
|------|--------|-----------------------------------------------------------------------|
| 31.1 |   | Rule 13a-14(a)/15d-14(a) Certification of the Chief Executive Officer |
| 31.2 |   | Rule 13a-14(a)/15d-14(a) Certification of the Chief Financial Officer |
| 32.1 |   | Section 1350 Certification                                            |

----

|                    | MINDEN BANCORP, INC. |                                  |
|-------------------------|----------------------|---------------------------------------|
|                    |                 |                                  |   |
| Date: December 22, 2010 | By:                  | /s/ Jack E. Byrd, Jr.                 |   |
|                    |                 | Jack E. Byrd, Jr.                     |   |
|                    |                 | President and Chief Executive Officer |   |

| Date:  December 22, 2010 | By:    | /s/ Becky T. Harrell    |   |
|------------------------------------|--------|-------------------------|--------|
|                               |   | Becky T. Harrell        |   |
|                               |   | Chief Financial Officer |   |