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National Bank Notes > North Dakota

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Hillsboro, Hillsboro NB, W3411
Fr. 625 $10 1902PB
Grade: PMG VF 20    

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This bank began in Territorial banking and there is a single note known. There are also eight large notes reported from the statehood period. A total of 13,156 sheets were printed. This problem free example has excellent stamped signatures of Ole Arnegard, President and Oscar Moen, Cashier. Ole Arnegarde was born September 2, 1869, in Rice county, MN; he graduated in 1896 from UND at Grand Forks. For some years after leaving the university Mr. Arnegard engaged in farming. In 1905 Mr. Arnegard accepted the position in the Hillsboro National Bank. He served as delegate to several county and state conventions and was also a member of the Republican State Central Committee from 1906 to 1908. Hillsboro is the county seat of Traill County; the population was 1,603 at the 2010 census. The area that is now Hillsboro was first settled by German and Norwegian settlers around 1870. In 1880, the present day site of Hillsboro was founded under the name "Comstock". When it was platted in September 1880, it was renamed Hill City to honor Great Northern Railroad President James J. Hill. It was discovered that a Hill City already existed in South Dakota, so when the post office was established August 12, 1881 with Asa W. Morgan as Postmaster, it was named Hillsboro. The community was incorporated as a city in 1882 with John DeGroat mayor. In the election of 1890, Hillsboro was awarded the county seat, but legal challenges prevented the removal of the courthouse from Caledonia until 1896. Hillsboro is known for having the oldest weekly newspaper in the state, the Hillsboro Banner. Elmore Y. Sarles, 9th Governor of North Dakota was from Hillsboro. Located halfway between the two metropolitan centers of Greater Grand Forks and Fargo-Moorhead, Hillsboro has seen steady population growth in recent years and has become somewhat of a bedroom community.

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