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                                        Filed by Monarch Community Bancorp, Inc.
                           Pursuant to Rule 425 under the Securities Act of 1933

                                           Subject Company: MSB Financial, Inc.
                                                   Commission File No.: 0-24898

On March 26, 2004, Monarch Community Bancorp, Inc., a Maryland Corporation,
issued the following press release:

PRESS RELEASE


*FOR IMMEDIATE RELEASE*


                 OFFICE OF THRIFT SUPERVISION APPROVES MERGER OF
             MONARCH COMMUNITY BANCORP, INC. AND MSB FINANCIAL, INC.

      Coldwater,  Michigan  and  Marshall,  Michigan,  March 26, 2004 -- Monarch
Community Bancorp, Inc. (Nasdaq SmallCap:  MCBF),  Coldwater,  Michigan, and MSB
Financial, Inc. (Nasdaq SmallCap: MSBF), Marshall,  Michigan,  jointly announced
today the Office of Thrift  Supervision  has approved their merger in accordance
with  the  definitive  merger  agreement   announced   September  2,  2003.  The
stockholders  of MSB  Financial  approved  the merger on January 22,  2004.  The
companies expect to complete the merger on, or about, April 15, 2004.

FORWARD-LOOKING STATEMENTS

      This news release  contains certain  forward-looking  statements about the
proposed merger of Monarch Community Bancorp and MSB Financial. These statements
include  statements  regarding the anticipated  closing date of the transaction.
Forward-looking statements can be identified by the fact that they do not relate
strictly  to  historical  or  current  facts.  They  often  include  words  like
"believe,"  "expect,"  "anticipate,"  "estimate,"  and  "intend"  or  future  or
conditional  verbs such as "will," "would,"  "should," "could" or "may." Certain
factors  that could cause  actual  results to differ  materially  from  expected
include delays in completing the merger and changes in the securities markets.

ADDITIONAL INFORMATION ABOUT THE MERGER AND WHERE TO FIND IT

     SHAREHOLDERS  OF MSB  FINANCIAL  AND OTHER  INVESTORS ARE URGED TO READ THE
PROXY  STATEMENT/PROSPECTUS  THAT IS INCLUDED IN THE  REGISTRATION  STATEMENT ON
FORM S-4, AS AMENDED,  THAT MONARCH  COMMUNITY BANCORP FILED WITH THE SECURITIES
AND EXCHANGE  COMMISSION  ("SEC") IN CONNECTION WITH THE PROPOSED MERGER BECAUSE
IT  CONTAINS  IMPORTANT   INFORMATION  ABOUT  MONARCH  COMMUNITY  BANCORP,   MSB
FINANCIAL,  THE MERGER,  THE PERSONS  SOLICITING PROXIES IN THE MERGER AND THEIR
INTERESTS IN THE MERGER AND RELATED  MATTERS.  Investors  are able to obtain all
documents filed with the SEC by Monarch Community Bancorp and MSB Financial free
of charge at the SEC's website,  www.sec.gov. In addition,  documents filed with
the SEC by Monarch  Community  Bancorp  are  available  free of charge  from the
Corporate  Secretary of Monarch Community Bancorp at 375 North Willowbrook Road,
Coldwater,  Michigan 49036,  telephone (517) 278-4566.  Documents filed with the
SEC by MSB Financial are available  free of charge from the Corporate  Secretary
of MSB Financial at 107 North Park Street,  Marshall,  Michigan 49068, telephone
(269) 781-5103.

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For further information contact:

John R. Schroll
President and Chief Executive Officer
Monarch community Bancorp, Inc.
(517) 278-4566

Charles B. Cook
President and Chief Executive Officer
MSB Financial, Inc.
(269) 781-5103