MSB Financial Corp. Announces Quarterly Results


MILLINGTON,  N.J.,  May  16,  2007  (PRIME  NEWSWIRE)  --  MSB  Financial  Corp.
(Nasdaq:MSBF)  (the "Company"),  the holding company for Millington Savings Bank
(the  "Bank"),  reported net income of $859,000 for the three months ended March
31, 2007.  The Bank  recorded a gain on the sale of the land and building  which
housed the Bank's  former main office  during the  quarter of  $605,000,  net of
taxes.  Without such gain,  net income for the quarter would have been $254,000.
This compares to net income of $172,000 for the quarter ended  December 31, 2006
and net income of $397,000 for the quarter ended March 31, 2006.


Net interest  income for the quarter ended March 31, 2007 was $2.0  million,  as
compared  to $1.7  million  for the  quarter  ended  December  31, 2006 and $1.9
million for the quarter  ended March 31, 2006.  The interest rate spread for the
March 2007 quarter was 2.46%,  compared to 2.41% for the quarter ended  December
31, 2006 and 3.00% for the March 2006  quarter.  The  average  yield on interest
earning  assets for the March 2007  quarter was 6.13%  compared to 6.06% for the
quarter  ended  December  31,  2006 and 6.02% for the March  2006  quarter.  The
average  cost of interest  bearing  liabilities  for the March 2007  quarter was
3.67%  compared to 3.65% for the quarter  ended  December 31, 2006 and 3.02% for
the March 2006 quarter.


Non-interest  expense for the March 2007  quarter was $1.7  million  compared to
$1.6  million for the quarter  ended  December 31, 2006 and $1.4 million for the
March 2006  quarter.  The increase for the March 2007 quarter as compared to the
quarter  ended  December 31, 2006 resulted in part from the cost of the Employee
Stock  Ownership  Plan,  implemented  in  January  2007 in  connection  with the
Company's  IPO.  Increases in salaries and employee  benefits  cost and director
compensation were also responsible for the higher  non-interest  expense for the
quarter.  The increase for the March 2007 quarter as compared to the same period
in 2006 is due in part to the opening of the Martinsville  branch office in July
2006,  which  affected  salaries and employee  benefits as well as occupancy and
equipment  costs.  Between  the March 2006 and March 2007  quarters  there was a
$156,000  increase in salaries and employee  benefits and a $78,000  increase in
occupancy and equipment.


Total assets were $282.7  million at March 31, 2007,  compared to $270.2 million
at June 30, 2006 due primarily to a $15.0 million increase in loans  receivable.
Deposits were $208.5  million at March 31, 2007,  compared to $194.8  million at
June 30,  2006.  The  increase  was mainly in  certificates  of  deposit,  which
composed  59.4% of total deposits at March 31, 2007.  Liquidity  provided by the
stock offering in January 2007 was responsible for a decrease in borrowed funds;
FHLB advances  were $29.1 million at March 31, 2007,  down from $54.2 million at
December 31, 2006.


Shares of MSB Financial Corp.  commenced  trading on the NASDAQ Global Market on
January 5, 2007 under the symbol  "MSBF." The closing sales price for the shares
on May 15, 2007 was $11.56.

CONTACT:  MSB Financial Corp.
          Michael Shriner, Executive Vice President
          908-647-4000
          mshriner@millingtonsb.com