Filed by Patapsco Bancorp, Inc. Pursuant to Rule 425 under the Securities Act of 1933 Subject Company: Northfield Bancorp, Inc. Commission File No.: 0-25057 PRESS RELEASE - ------------- PATAPSCO BANCORP, INC. For further information contact Joseph J. Bouffard, President 410-285-9327 NORTHFIELD BANCORP, INC. For further information contact G. Ronald Jobson, President 410- 665-7900 PATAPSCO BANCORP, INC. TO ACQUIRE NORTHFIELD BANCORP, INC. AND NORTHFIELD FEDERAL SAVINGS BANK Baltimore, MD. May 16, 2000 - The Boards of Directors of Patapsco Bancorp, Inc. (OTC Bulletin Board: PATD), the parent company of The Patapsco Bank, and Northfield Bancorp, Inc. (OTC Bulltein Board: NFSB), the parent company of Northfield Federal Savings Bank, announced today that they have signed an agreement whereby Patapsco Bancorp, Inc. will acquire Northfield Bancorp, Inc. Each share of Northfield Bancorp, Inc. common stock issued and outstanding at the effective time of the acquisition will be converted into the right to receive $12.50 in cash and 0.24 shares of a newly created class of Patapsco Bancorp, Inc.'s Preferred Stock. The Preferred Stock will be convertible into Patapsco Bancorp, Inc.'s common stock on a one for one basis, will be redeemable after five years and will pay, until converted or redeemed, a noncumulative 7.5% dividend on its liquidation value of $25.00. The Patapsco Bank serves Baltimore County and surrounding communities from its office located at 1301 Merritt Boulevard, Dundalk, Maryland. Northfield Federal Savings Bank serves Baltimore County and also focuses its lending efforts on Harford & Cecil Counties from its two offices which are located at 1844 E. Joppa Road, Baltimore, Maryland and 8705 Harford Road, Baltimore, Maryland. "Patapsco Bancorp, Inc. is very enthusiastic about its agreement to purchase Northfield Bancorp, Inc.," stated Joseph J. Bouffard, President of Patapsco Bancorp, Inc. "We are excited about the growth potential these markets hold and the opportunity to offer our existing products to new customers." G. Ronald Jobson, President of Northfield Bancorp, Inc., said, "This transaction will enable us to enhance our product offerings and enable us to better serve our communities. Patapsco Bancorp, Inc. provides the same kind of personal service that has been the foundation of our growth. We are confident that our customers will benefit from this affiliation." The acquisition would result in consolidated assets of approximately $154 million, consolidated loans of approximately $135 million and consolidated deposits of approximately $113 million based on March 31, 2000 financial information. The acquisition is expected to be completed in the third quarter or fourth quarter of 2000 and is subject to various conditions, including regulatory approval and the approval of the stockholders of Northfield Bancorp, Inc. As of March 31, 2000, Patapsco Bancorp, Inc. reported assets of $101 million and total stockholders' equity of $9.3 million and Northfield Bancorp, Inc. reported assets of $54.3 million and total stockholders' equity of 7.1 million. This press release contains certain forward looking statements about the proposed acquisition of Northfield Bancorp, Inc. by Patapsco Bancorp, Inc. These statements include statements regarding the anticipated closing date of the transaction, anticipated cost savings, and anticipated future results. 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 acquisition, difficulties in achieving cost savings from the acquisition or in achieving such cost savings within the expected time frame, difficulties in integrating Patapsco Bancorp, Inc. and Northfield Bancorp, Inc., increased competitive pressures, changes in the interest rate environment, changes in general economic conditions, legislative and regulatory changes that adversely affect the business in which Patapsco Bancorp, Inc. and Northfield Bancorp, Inc. are engaged, and changes in the securities markets. Patapsco Bancorp, Inc. and Northfield Bancorp, Inc. do not undertake, and specifically disclaim any obligation, to publicly release the result of any revisions which may be made to any forward-looking statements to reflect events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events. SHAREHOLDERS OF NORTHFIELD BANCORP, INC. AND OTHER INVESTORS ARE URGED TO READ THE PROXY STATEMENT/PROSPECTUS THAT WILL BE INCLUDED IN THE REGISTRATION STATEMENT ON FORM S-4 TO BE FILED BY PATAPSCO WITH THE U.S. SECURITIES AND EXCHANGE COMMISSION (SEC) IN CONNECTION WITH THE PROPOSED ACQUISITION. THE PROXY STATEMENT/PROSPECTUS WILL CONTAIN IMPORTANT INFORMATION ABOUT PATAPSCO BANCORP, INC., NORTHFIELD BANCORP, INC. AND THE ACQUISITION. CERTAIN OFFICERS AND DIRECTORS OF NORTHFIELD BANCORP, INC. WILL BE SOLICITING PROXIES FROM SHAREHOLDERS OF NORTHFIELD BANCORP, INC. IN FAVOR OF THE ACQUISITION. A DESCRIPTION OF THEIR DIRECT AND INDIRECT INTERESTS IN THE ACQUISITION, SUCH AS THEIR STOCK OWNERSHIP IN NORTHFIELD BANCORP, INC., WILL BE INCLUDED IN THE PROXY STATEMENT/PROSPECTUS. THE DIRECTORS AND OFFICERS OF NORTHFIELD BANCORP, INC. WHO WILL BE SOLICITING PROXIES ARE G. RONALD JOBSON, J. THOMAS HOFFMAN, GARY R. BOZEL, WILLIAM R. RUSH, E. THOMAS LAWRENCE, JR. AND DAVID G. RITTENHOUSE. AFTER IT IS FILED WITH THE SEC, THE PROXY STATEMENT/ PROSPECTUS WILL BE AVAILABLE FOR FREE, BOTH ON THE SEC'S WEB SITE (WWW.SEC.GOV) AND FROM PATAPSCO BANCORP, INC. AND NORTHFIELD BANCORP, INC. AS FOLLOWS: PATAPSCO BANCORP, INC.: JOSEPH J. BOUFFARD PRESIDENT AND CHIEF EXECUTIVE OFFICER PATAPSCO BANCORP, INC. 1301 MERRITT BOULEVARD DUNDALK, MARYLAND 21222 410-285-9327 NORTHFIELD BANCORP, INC.: G. RONALD JOBSON PRESIDENT AND CHIEF EXECUTIVE OFFICER NORTHFIELD BANCORP, INC. 8005 HARFORD ROAD BALTIMORE, MARYLAND 21234 410-665-7900 Patapsco Bancorp, Inc. and Northfield Bancorp, Inc. also file annual, quarterly and special reports, proxy statements and other information with the SEC. Investors may read and copy any reports, statements or other information filed by each company on the SEC's web site at www.sec.gov or at the SEC's public reference rooms at 450 Fifth Street, N.W., Washington, D.C. 20549 or at the SEC's other public reference rooms in New York, New York and Chicago, Illinois. Please call the SEC at 1-800-SEC-0330 for further information on the public reference rooms.