First National Bank, Bound Brook, NJ (Charter 3866)

The old First National Bank of Bound Brook, New Jersey, ca2023. Courtesy of Google Maps

First National Bank, Bound Brook, NJ (Chartered 1888 - Closed (Merger) 1990)

Town History

Bound Brook is a borough in Somerset County, in the U.S. state of New Jersey, located along the Raritan River. As of the 2020 United States census, the borough's population was 11,988. In 1880 the population was 934, growing to 7,372 by 1930.

Bound Brook was originally incorporated as a town by an act of the New Jersey Legislature on March 24, 1869, within portions of Bridgewater Township. On February 11, 1891, it was reincorporated as a borough, based on the results of a referendum held on the previous day.

The area was first settled in 1681 and a community was established near the Bound Brook stream of the same name, which flows into the Raritan River via the Green Brook on the eastern side of the borough. The brook, which was mentioned as a boundary in a Native American deed, provides the source of the borough's name. The Battle of Bound Brook, one of the battles in the New York and New Jersey campaign during the American Revolutionary War, occurred on April 13, 1777, and resulted in a defeat for the Continental Army, who were routed by about 4,000 troops under British command.

Bound Brook had two National Banks chartered during the Bank Note Era, and both of those banks issued National Bank Notes.

Bank History

Founded A.D. 1888 is seen over the doorway to the First National Bank of Bound Brook, ca1919.

Organized February 16, 1888
Chartered April 14, 1888
Bank was Open past 1935
For Bank History after 1935 see FDIC Bank History website
Merged into National Westminster Bank NJ in Jersey City, NJ, October 1, 1990

The bank was founded in 1888, it then being deemed necessary to have a bank due to the local Banking and Loan Association having to bank in Somerville. The first president of the bank was George La Monte who held that office until his death in 1913. George Mason La Monte succeeded his father as president. Senator William W. Smalley was elected president in 1915 and 1916, serving until George Mason La Monte was again elected and he remained president until his death in December 1927. Among the first directors of the bank were James C. Garretson, Peter J. Staats, John D. Voorhees, O.B. Reynolds, Andrew Lane, Joseph W. Ballantine, George La Monte, W.H. Alpaugh, and Taylor Jelliffe. Other directors have been Isaac N. Brokaw, Henry F. Gillespie, Andrew S. Coriell, R.H. Swayze, George Mason La Monte, Samuel H. Miller, Dr. C.R.P. Fisher, J.E. Rutt, W.W. Smalley [all deceased by 1930].

On Thursday, January 16, 1913, the following directors were elected: George M. La Monte, Henry G. Herbert, William W. Smalley, Samuel H. Miller, Peter J. Staats, David Hasting, Gaius Hoffman, Andrew S. Corriell, and George V. La Monte.

George La Monte who passed away at his home on West High Street. Mr. La Monte was father of George M. La Monte, the State Commissioner of Banking and Insurance. Mr. La Monte was born in Charlotteville, New York in 1834 and was graduated from union College in 1857. A year later he married Rebecca T. Kearn of Romney, Virginia (later West Virginia). He remained in the south engaged in teaching until after the close of the war coming north in 1865 when he entered the paper manufacturing business. Mr. La Monte became associated with the paper firm of Augustus Smith & Co. of New York and in 1871 he perfected his invention of the National Safety paper which was destined to make his fortune. This paper grew in use until it was recognized as the best material for bank checks and was used exclusively by the Government in printing domestic money orders. In 1888 when the First National Bank of Bound Brook was organized, he was chosen as its president. He was prominently identified with the Prohibition Party in New Jersey. Through his generosity, Bound Brook became possessed of a tract of land on the heights where Washington's Army was twice encamped during the Revolution. He also presented the town its property for the public library. He was a member of the New jersey Society of the Sons of the American Revolution.

On Tuesday, January 13, 1914, stockholders re-elected the following directors: Henry G. Herbert, Andrew S. Coriell, George M. La Monte, Gaius Hoffman, David Hastings, William W. Smalley, Samuel H. Miller, and Henry F. Gillespie. William G. Besler, vice president and general manager of the Central railroad of New Jersey, was elected to fill the vacancy caused by the death of George La Monte.

On Tuesday, January 8, 1924, the stockholders re-elected the following directors: C.R.P. Fisher, David Hastings, Henry G. Herbert, Gaius Hoffman, George La Monte, G.V. La Monte, Samuel H. Miller, W.S. Nixon and George O. Smalley. The officers re-elected were George M. La Monte, president; Samuel H. Miller, vice president; C.R.P. Fisher, second vice president; Henry G. Herbert, third vice president; W.S. Nixon, cashier and trust officer; George M. Green and James J. Capano, assistant cashiers. Mr. Capano was made an assistant cashier this year.

On January 8, 1929, the stockholders met and elected directors. The directors then met and elected the following officers: Samuel H. Miller, who was first vice president of the Chase National Bank in New York, president and chairman of the board; David Hastings, Henry G. Herbert, Loren N. Wood, James J. Capano, vice presidents; William Backer, cashier; James J. Capano and Everett C. Stevenson, assistant cashiers. William Backer, formerly of the Bound Brook Trust Co. and later of the Hillside National Bank succeeded W. Sargeant Nixon as cashier, trust officer and director. The other directors were Gaius Hoffman, George V. La Monte, George O. Smalley, and Clarence A. Zimmerman.

The officers in 1930 were Loren N. Wood, president; David Hastings, Gaius Hoffman, and Henry G. Herbert, vice presidents; William M. Backer, cashier and trust officer; James J. Capano and Everett C. Stevenson, assistant cashiers. The other directors were George Vail La Monte, George O. Smalley, Clarence A. Zimmerman, William N. Backer and F. Rogers Parkin. The capital was $200,000, surplus and undivided profits $72,409.29, and total resources $5,540,524.57. Mr. Wood was president of the law firm Wood, Molly and France in New York City; Mr. Hastings was postmaster of Bound Brook; Mr. Hoffman was borough tax collector and principal; George Vaill La Monte, president of George La Monte and Son of New York, Mr. Zimmerman, mayor of South Bound Brook and Uumer and Wagner Manufacturing Co.; F.R. Parkin was vice president of the Equitable Trust Company of New York.

Dec. 1, 1956 Merged with the Second National Bank, Somerville and changes name to the First National Bank of Somerset County.
Jan. 26, 1965 Moves main office to Sommerville.
May 1, 1969 Changes name to First National Bank of Central Jersey.
1977 Moves to Bridgewater.
March 7, 1983 Creates parent company, Ultra Bancorp.

Official Bank Title(s)

1: The First National Bank of Bound Brook, NJ

Bank Note Types Issued

1882 Brown Back $5 bank note with pen signatures of R.H. Brokaw, Cashier and George La Monte, President. Courtesy of the NBNCensus.com

1882 Brown Back $10 bank note with pen signatures of H.G. Herbert, Cashier and George La Monte, President. Courtesy of Lyn Knight Auctions, www.lynknight.com

1902 Plain Back $10 bank note with pen signatures of W. Sargeant Nixon, Cashier and David Hastings, Vice President. Selvage included at top shows printers initials indicating at least 14 uses of the plate including the print run to produce this note. Courtesy of Heritage Auctions, www.ha.com

1929 Type 1 $10 bank note with printed signatures of William M. Backer, Cashier and Loren N. Wood, President. Courtesy of Heritage Auctions, www.ha.com

A total of $731,020 in National Bank Notes was issued by this bank between 1888 and 1935. This consisted of a total of 80,354 notes (41,796 large size and 38,558 small size notes).

This bank issued the following Types and Denominations of bank notes:

Series/Type	Sheet/Denoms	Serial#s	Sheet Comments
1882 Brown Back	4x5	1 - 3976
1882 Brown Back	3x10-20	1 - 700
1902 Red Seal	4x10	1 - 325
1902 Date Back	4x10	1 - 2200
1902 Plain Back	4x10	2201 - 5448
1929 Type 1	6x10	1 - 4776
1929 Type 2	10	1 - 9902

Bank Presidents and Cashiers

Bank Presidents and Cashiers during the National Bank Note Era (1888 - 1935):

Presidents:

Cashiers:

Other Bank Note Signers

David Hastings, Vice President 1928...1929
There are currently no known Assistant Cashier bank note signers for this bank.

Wiki Links

Sources

Bound Brook, NJ, on Wikipedia
Don C. Kelly, National Bank Notes, A Guide with Prices. 6th Edition (Oxford, OH: The Paper Money Institute, 2008).
Dean Oakes and John Hickman, Standard Catalog of National Bank Notes. 2nd Edition (Iola, WI: Krause Publications, 1990).
Banks & Bankers Historical Database (1782-1935), https://spmc.org/bank-note-history-project
The Bankers' Magazine, Vol. 99, July 1919 - Dec. 1919, p. 75.
The Central New Jersey Home News, New Brunswick, NJ, Fri., Jan. 17, 1913.
The Courier-News, Bridgewater, NJ, Mon. Oct. 20, 1913.
The Courier-News, Bridgewater, NJ, Wed., Jan. 14, 1914.
The Central New Jersey Home News, New Brunswick, NJ, Wed., Jan. 9, 1924.
The Courier-News, Bridgewater, NJ, Wed., Jan. 9, 1929.
The Courier-News, Bridgewater, NJ, Mon., Apr. 7, 1930.
The Courier-News, Bridgewater, NJ, Wed., Aug. 6, 1986.