Also on the list of organizers was William Bruce Amerman, George R. Farley, Albert J. Macchi, and Sylvester L. Sullivan. Approval was granted later that year for the Hillsborough National Bank, with an expected opening in 1972 at Route 206 and New Amwell Road. The proposed location was subsequently changed to the site of the A&P Shopping Center under construction at the intersection of Route 206 and Amwell Road.
|30 January 1973 Courier News|
|19720927 Courier News|
Sylvester Sullivan served as the first president and chairman of the board. He was replaced by the appointment of Michael A. Cinelli as president on June 1, 1973. Cinelli, besides being a township committeeman and former president of the Hillsborough Township Board of Education, held a master's degree in finance from NYU and worked in the banking industry before becoming vice president-finance for Hermann Services, Inc.
|11 July 1973 Courier News|
Many of the first shareholders in the bank were Hillsborough residents. Hillsborough National Bank highlighted this in a series of ads which ran in 1973 and 1974, Recent Hillsborough High School graduate Alan Kravette was in the first ad, which subsequently featured the Fierst Family, George and Janet Wulster, Santa and Felix Carlisi, and the bank staff.
|1973-74 "stockholder" ads|
|19 September 1974 Courier News|
|1 May 1981 Courier News|
In 1984, Franklin Bancorp. announced a plan to acquire Hillsborough National Bank for $5.6 million. As Michael Cinelli explained:
"Our customers will get additional convenience. For example, people holding automatic teller cards will be able to use Franklin State's Treasurer machine at more that 6,000 terminals statewide and national."
Hillsborough National Bank's wholesale lending limit would also increase from $450,000 to more than $6 million. The agreement was finalized in January 1985, with Hillsborough shareholders receiving 2.1 shares of Franklin stock for each of their Hillsborough shares. By the end of the year, the entire company was merged with United Jersey Bank, and in May of 1987, Hillsborough National Bank was completely subsumed by United Jersey Bank with the merger of its boards and executives into one entity.