RP FINANCIAL, LC. - --------------------------------------- Financial Services Industry Consultants September 12, 2006 Board of Directors MSB Financial, MHC MSB Financial Corp. Millington Savings Bank 1902 Long Hill Road Millington, New Jersey 07946 Members of the Boards of Directors: We hereby consent to the use of our firm's name in the Form MHC-2, and any amendments thereto, and in the Registration Statement on Form S-1, and any amendments thereto. We also hereby consent to the inclusion of, summary of and references to our Appraisal and our statement concerning subscription rights in such filings including the prospectus of MSB Financial Corp. Sincerely, RP FINANCIAL, LC. /s/RP FINANCIAL, LC. - -------------------------------------------------------------------------------- Washington Headquarters Rosslyn Center Telephone: (703) 528-1700 1700 North Moore Street, Suite 2210 Fax No.: (703) 528-1788 Arlington, VA 22209 Toll-Free No.: (866) 723-0594