On December 11, 2001, the Board of Directors of Minden Building and Loan Association, a Louisiana-chartered building and loan association (the "Association"), adopted a plan of reorganization pursuant to which the Association converted to stock form and became a wholly owned subsidiary of Minden Bancorp, Inc. In connection with the reorganization, the Company became a majority owned (55%) subsidiary of Minden Mutual Holding Company, a federally chartered mutual holding company. The reorganization was consummated on July 2, 2002. The Company is a unitary savings and loan holding company whose assets consist primarily of the ownership of the outstanding capital stock of the Association, investments of proceeds retained from the reorganization and the Company's loan to the employee stock ownership plan.