FOR IMMEDIATE RELEASE
January 4, 2007


                MSB FINANCIAL CORP. TO COMMENCE TRADING ON NASDAQ

Millington,  New Jersey, January 4, 2007 - MSB Financial Corp. (Nasdaq GM: MSBF)
(the "Company"), the holding company of Millington Savings Bank, announced today
that it has  completed  its minority  stock  offering.  Trading of the Company's
shares is  expected to  commence  on Friday,  January  5th on the Nasdaq  Global
Market under the symbol "MSBF."

Upon completion of the offering,  MSB Financial,  MHC, which formerly owned 100%
of the Company, now holds 3,091,344 shares, or 55% of the Company's  outstanding
common stock, and 2,529,281 shares, or 45% of the outstanding common stock, have
been issued to subscribers in the offering,  including  202,342 shares purchased
by the Millington Savings Bank Employee Stock Ownership Plan.

The  offering  was  oversubscribed  by eligible  account  holders at  Millington
Savings  Bank who were  depositors  as of June 30, 2005.  Accordingly,  eligible
account  holders will have valid orders filled in accordance with the allocation
procedures  set forth in the Company's  plan of stock  issuance and  prospectus.
Supplemental  eligible  account  holders  as of  September  30,  2006 and  other
depositors  as of October 31, 2006 will not have  orders  filled.  If you are an
eligible account holder and would like to confirm your allocation,  please visit
www.kbw.com/inv_banking/com_allocations/ComAllocations.aspx       for       that
information.  Subscribers  who did not receive  shares they  subscribed for have
been mailed refund checks if they paid by cash or check and have had the hold on
their  funds  released  if they paid by  authorizing  withdrawal  from a deposit
account at Millington Savings Bank.

Keefe,  Bruyette & Woods,  Inc.  acted as  financial  advisor to the Company and
managed the  subscription  offering.  Malizia Spidi & Fisch, PC acted as special
counsel to the Company.

MSB Financial  Corp. is the holding company for Millington  Savings Bank,  which
operates from its main office in  Millington,  New Jersey (Morris  County),  and
three branch offices located in Somerset County, New Jersey.

The  foregoing  information  contains  forward-looking  statements.  The Company
cautions  that such  statements  are subject to a number of  uncertainties.  The
Company does not undertake, and specifically disclaims, any obligation to update
any  forward-looking  statement,  whether written or oral, that may be made from
time to time by or on behalf of the Company.