Minden Bancorp (MDNB) in Minden, La., plans to deregister with the Securities and Exchange Commission.
The $274 million-asset company plans to file a form to terminate its registration with the SEC on Feb. 7, according to a Thursday press release. Its common stock will continue to trade on the OTC Bulletin Board under its current stock symbol.
Minden said its decision was prompted in part by the expenses associated with being a reporting company.
"In addition, following deregistration, the company's senior management will be able to focus more on the day-to-day operations of the company as opposed to the considerable time and effort necessary to manage compliance with SEC reporting requirements," the company said in a release.