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CUSIP No. 54619P104

SCHEDULE 13D

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

SCHEDULE 13D

Under the Securities Exchange Act of 1934
(Amendment No. 2)

LOUISIANA BANCORP, INC.

(Name of Issuer)

Common Stock, $.01 par value per share
(Title of Class of Securities)

54619P104

(CUSIP Number)

Warren A. Mackey

565 Fifth Avenue, 22d Floor

New York, New York 10017

Telephone: (212) 370-9032

(Name, Address and Telephone Number of Person

Authorized to Receive Notices and Communications)

August 23, 2010
(Date of Event which Requires Filing of this Statement)

If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box. [ ]

The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

CUSIP No. 54619P104

SCHEDULE 13D

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1.	Names of Reporting Persons. I.R.S. Identification Nos. of above persons (entities only).
	Homestead Partners LP
2.	Check the Appropriate Box if a Member of a Group (See Instructions)
	(a) [X]
	(b)
3.	SEC Use Only ...........................................................................................................................
4.	Source of Funds (See Instructions) WC
5.	Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e) [ ]
6.	Citizenship or Place of Organization: Delaware
Number of Shares Beneficially Owned by Each Reporting Person With
	7. Sole Voting Power: 0
	8. Shared Voting Power: 158,600
	9. Sole Dispositive Power: 0
	10. Shared Dispositive Power: 158,600
11.	Aggregate Amount Beneficially Owned by Each Reporting Person: 158,600
12.	Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions) [ ]
13.	Percent of Class Represented by Amount in Row (11): 3.7%
14.	Type of Reporting Person (See Instructions) PN

CUSIP No. 54619P104

SCHEDULE 13D

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1.	Names of Reporting Persons. I.R.S. Identification Nos. of above persons (entities only).
	Arles Partners LP
2.	Check the Appropriate Box if a Member of a Group (See Instructions)
	(a) [X]
	(b)
3.	SEC Use Only ...........................................................................................................................
4.	Source of Funds (See Instructions) WC
5.	Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e) [ ]
6.	Citizenship or Place of Organization: New York
Number of Shares Beneficially Owned by Each Reporting Person With
	7. Sole Voting Power: 0
	8. Shared Voting Power: 50,500
	9. Sole Dispositive Power: 0
	10. Shared Dispositive Power: 50,500
11.	Aggregate Amount Beneficially Owned by Each Reporting Person: 50,500
12.	Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions) [ ]
13.	Percent of Class Represented by Amount in Row (11): 1.2%
14.	Type of Reporting Person (See Instructions) PN

CUSIP No. 54619P104

SCHEDULE 13D

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1.	Names of Reporting Persons. I.R.S. Identification Nos. of above persons (entities only).
	Arles Advisors Inc
2.	Check the Appropriate Box if a Member of a Group (See Instructions)
	(a) [X]
	(b)
3.	SEC Use Only ...........................................................................................................................
4.	Source of Funds (See Instructions) n/a
5.	Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e) [ ]
6.	Citizenship or Place of Organization: New York
Number of Shares Beneficially Owned by Each Reporting Person With
	7. Sole Voting Power: 0
	8. Shared Voting Power: 209,100
	9. Sole Dispositive Power: 0
	10. Shared Dispositive Power: 209,100
11.	Aggregate Amount Beneficially Owned by Each Reporting Person: 209,100
12.	Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions) [ ]
13.	Percent of Class Represented by Amount in Row (11): 4.9%
14.	Type of Reporting Person (See Instructions) CO

CUSIP No. 54619P104

SCHEDULE 13D

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1.		Names of Reporting Persons. I.R.S. Identification Nos. of above persons (entities only).
		Warren A. Mackey
2.		Check the Appropriate Box if a Member of a Group (See Instructions)
		(a) [X]
		(b)
3.		SEC Use Only ...........................................................................................................................
4.		Source of Funds (See Instructions) n/a
5.		Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e) [ ]
6.		Citizenship or Place of Organization: United States
Number of Shares Beneficially Owned by Each Reporting Person With
		7. Sole Voting Power: 0
		8. Shared Voting Power: 209,100
		9. Sole Dispositive Power: 0
		10. Shared Dispositive Power: 209,100
	11.	Aggregate Amount Beneficially Owned by Each Reporting Person: 209,100
	12.	Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions) [ ]
	13.	Percent of Class Represented by Amount in Row (11): 4.9%
	14.	Type of Reporting Person (See Instructions) IN

CUSIP No. 54619P104

SCHEDULE 13D

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Item 1. Security and Issuer

This is the second amendment (this "Second Amendment") to the original Schedule 13D filed on July 25, 2007 (the "Original Schedule 13D"), and amended on December 28, 2009 ("First Amendment"). This Second Amendment relates to the common stock (“Shares”), $.01 par value per share, of Louisiana Bancorp, Inc. (the “Issuer”). The address of the principal executive offices of the Issuer is 1600 Veterans Memorial Boulevard, Metairie, Louisiana 70005.

Item 2. Identity and Background

(a) This Second Amendment is filed by Homestead Partners LP (“Homestead Partners”), a Delaware limited partnership, Arles Partners LP (“Arles Partners”), a New York limited partnership, Arles Advisors Inc (“Arles Advisors”), a New York corporation, and Warren A. Mackey. All the filers of this Second Amendment are collectively referred to as the “Reporting Group.”

Arles Advisors is the general partner of Homestead Partners and Arles Partners. The sole shareholder, director and executive officer of Arles Advisors is Warren A. Mackey. By virtue of his position with Arles Advisors, Mr. Mackey has the sole investment discretion and voting authority with respect to the Issuer’s Shares owned by Homestead Partners and Arles Partners. Accordingly, the Reporting Group is hereby filing a joint Schedule 13D.

(b) The principal business address of the Reporting Group is 565 Fifth Avenue, 22d Floor, New York, New York 10017.

(c) The principal business of Homestead Partners and Arles Partners is investing in securities. The principal business of Arles Advisors is acting as the general partner of Homestead Partners and Arles Partners. The principal occupation of Mr. Mackey is investing in securities.

(d) During the past five years, no member of the Reporting Group has been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors).

(e) During the past five years, no member of the Reporting Group has been a party to a civil proceeding of a judicial or administrative body of competent jurisdiction and, as a result of such proceeding, was or is subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, Federal or State securities laws or finding any violation with respect to such laws.

(f) Warren A. Mackey is a citizen of the United States of America.

Item 3. Source and Amount of Funds or Other Consideration

In the aggregate, the Reporting Group owns 209,100 Shares acquired at an aggregate cost of $2,167,626.

The amount of funds expended to date by Homestead Partners to acquire the 158,600 Shares it holds in its name is $1,633,809. Such funds were provided from Homestead Partners' working capital.

CUSIP No. 54619P104

SCHEDULE 13D

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The amount of funds expended to date by Arles Partners to acquire the 50,500 Shares it holds in its name is $533,817. Such funds were provided from Arles Partners’ working capital.

All or part of the Shares owned by members of the Reporting Group may from time to time be pledged with one or more banking institutions or brokerage firms as collateral for loans made by such entities to members of the Reporting Group. Such loans generally bear interest at a rate based on the broker's call rate from time to time in effect.

Item 4. Purpose of Transaction

The Reporting Group is filing this Second Amendment to report that its beneficial ownership of Shares has dropped below five percent of the Shares currently outstanding.

The Reporting Group intends to review its investment in the Issuer on a continuing basis, engage in discussions with senior management and the board of directors of the Issuer and work with the Issuer to enhance shareholder value. Depending on various factors including, without limitation, the Issuer’s financial position and strategy, the price levels of the Shares, conditions in the securities markets and global, national and local economic and industry conditions, the Reporting Group may in the future take such actions with respect to its investment in the Issuer as it deems appropriate including, without limitation, making proposals to the Issuer concerning changes to the Issuer's capitalization, dividend policy, share-repurchase policy and operations, seeking Board representation, purchasing additional Shares, selling some or all of its Shares or changing its intention with respect to any and all matters referred to in this Item 4.

No member of the Reporting Group, to the best of the Reporting Group's knowledge, has any present plans or proposals that relate to, or could result in, any of the matters referred to in paragraphs (a) through (j) of Item 4 of Schedule 13D except as set forth herein or such as would occur upon completion of any of the actions discussed above.

Item 5. Interest in Securities of the Issuer

(a) and (b) The aggregate percentage of Shares reported as beneficially owned by each person named herein is based upon the number of outstanding Shares of common stock, 4,185,880, reported as the number of outstanding Shares as of August 12, 2010, in the Issuer's quarterly report on Form 10-Q filed with the Securities and Exchange Commission on August 12, 2010.

As of the close of business on September 1, 2010, the Reporting Group beneficially owned, in the aggregate, 209,100 Shares, representing 4.9% of the Issuer’s Shares outstanding. As the general partner of Homestead Partners and Arles Partners, Arles Advisors may be deemed to share voting and dispositive power over the 158,600 Shares owned by Homestead Partners and the 50,500 Shares owned by Arles Partners, representing 3.7% and 1.2% of the Issuer’s Shares outstanding, respectively. As the sole shareholder, director and executive officer of Arles Advisors, Warren A. Mackey may be deemed to share voting and dispositive power over the Shares owned by Homestead Partners and Arles Partners.

(c) Exhibit C annexed hereto lists all transactions in the Shares during the past 60 days by the Reporting Group. All transactions reported herein were open market sales.

(d) Not applicable.

CUSIP No. 54619P104

SCHEDULE 13D

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(e) The Reporting Group ceased to have beneficial ownership of more than five percent of the outstanding Shares on September 1, 2010.

Item 6. Contracts, Arrangements, Understandings or Relationships With Respect to Securities of the Issuer

Except as otherwise described herein, there are no contracts, arrangements, understandings or relationships among the persons named in Item 2 hereof and between such persons and any person with respect to any securities of the Issuer, including but not limited to transfer or voting of any of the securities, finder's fees, joint ventures, loan or option arrangements, puts or calls, guarantees of profits, division of profits or losses or the giving or withholding of proxies, except for sharing of profits. Arles Advisors, in its capacity as general partner of Homestead Partners and Arles Partners, and Warren A. Mackey, in his capacity as the sole shareholder, director and executive officer of Arles Advisors, are entitled to an allocation of a portion of profits.

See Item 2 above regarding disclosure of the relationships between members of the Reporting Group, which disclosure is incorporated herein by reference.

Item 7. Material to be Filed as Exhibits

A.	Joint Filing Agreement by and Among the Reporting Group, filed with the Original Schedule 13D
B.	Schedule of Transactions in the Shares, filed with the Original Schedule 13D
C.	Schedule of Transactions in the Shares as of September 1, 2010

CUSIP No. 54619P104

SCHEDULE 13D

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SIGNATURES

After reasonable inquiry and to the best of our knowledge and belief, we certify that the information set forth in this statement is true, complete and correct.

Date: September 1, 2010

		HOMESTEAD PARTNERS LP

		By:	ARLES ADVISORS INC General Partner

		By:	/s/ Warren A. Mackey
			Warren A. Mackey President

		ARLES PARTNERS LP

		By:	ARLES ADVISORS INC General Partner

		By:	/s/ Warren A. Mackey
			Warren A. Mackey President

		ARLES ADVISORS INC

		By:	/s/ Warren A. Mackey
			Warren A. Mackey President

		WARREN A. MACKEY

		/s/ Warren A. Mackey
		Warren A. Mackey

CUSIP No. 54619P104

SCHEDULE 13D

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EXHIBIT C

Schedule of Transactions in the Shares

as of September 1, 2010

The schedule below shows all Shares sold during the past 60 days.

	Date	No. of Shares		Price Per Share		Total

Homestead Partners LP

	8/23/2010	80,000	$	14.7500	$	1,180,000
	9/1/2010	5,800	$	14.6000		84,680
Total		85,800			$	1,264,680


Arles Partners LP


	8/23/2010	13,700	$	14.7500	$	202,075