<PAGE>
                                                                   EXHIBIT 10(g)

                                PLEDGE AGREEMENT

AGREEMENT dated December 20, 2001, by and between CITY NATIONAL BANCSHARES
CORPORATION, a New Jersey corporation ("Pledgor"), and the NATIONAL COMMUNITY
INVESTMENT FUND, a trust ("Pledgee").

Pledgor desires to borrow from Pledgee the principal sum of $1,000,000 in
accordance with the terms and conditions set forth in the Loan Agreement dated
the date hereof (the "Loan Agreement") between Pledgor and Pledgee, which is
being executed and delivered by the parties thereto simultaneously with the
execution and delivery of this Agreement. Pledgee is willing to make the loan to
Pledgor under the Loan Agreement, provided that, among other things, Pledgor
provides security therefor in accordance with the terms of this Agreement.
Pledgor is willing to provide such security.

In consideration of the premises and the mutual promises and undertakings set
forth or provided for herein, the parties hereto agree as follows:

1.    Grant of Security Interest. To secure payment and other performance of the
      Obligations (as hereinafter defined), Pledgor hereby pledges and
      collaterally assigns to Pledgee and grants to Pledgee a security interest
      in the following, wherever located (collectively, the "Collateral"): (a)
      5,090 shares of the common stock, $0 par value per share, of City National
      Bank of New Jersey, a national association (the "Bank"); (b) any and all
      shares of capital stock of the Bank hereafter acquired by Pledgor as a
      distribution with respect to the shares described in (a) above or in (b);
      (c) all certificates now or at any time hereafter representing or
      evidencing any of the shares described in (a) or (b) above; (d) executed
      blank stock powers for the shares described in (a) above; (e) all
      dividends and other distributions with respect to any of the shares
      described in (a) or (b) above; and (f) all proceeds related to any of the
      foregoing. The shares described in (a) and (b) above are collectively
      referred to as the "Pledged Shares". Certificates representing or
      evidencing the shares described in (a) above and the stock powers
      described in (d) above are being delivered by Pledgor to Pledgee herewith.

2.    Obligations. The Obligations secured by this Agreement and the security
      interest granted hereunder (collectively, the "Obligations") are the
      following:
<PAGE>
      (a)   The indebtedness of Pledgor to Pledgee evidenced by a Secured
            Promissory Note dated the date hereof made by Pledgor in the
            principal amount of $1,000,000 and any and all extensions, renewals,
            modifications or refinancings thereof, which Secured Promissory Note
            (the "Note") has been delivered to Pledgee pursuant to the Loan
            Agreement; and any and all indebtedness and other obligations of
            Pledgor arising under the Loan Agreement or under any instrument or
            agreement delivered pursuant thereto.

      (b)   All indebtedness and other obligations of Pledgor arising under this
            Agreement.

      (c)   All reasonable expenses incurred by Pledgee with respect to any of
            the Collateral, including without limitation any sums advanced by
            Pledgee in order to preserve the Collateral.

      (d)   In the event of any proceeding to enforce the collection of the
            Obligations, or any of them, after the occurrence of an Event of
            Default (as hereinafter defined), the reasonable expenses of
            collecting or enforcing payment of the Obligations or retaking,
            holding, preparing for sale, selling or otherwise disposing of any
            or all of the Collateral upon exercise by Pledgee of any of its
            rights and remedies hereunder or under the Loan Agreement, including
            without limitation reasonable attorneys' fees and costs of
            litigation related to any of the foregoing.

3.    Voting. Unless an Event of Default (as hereinafter defined) shall have
      occurred, Pledgor shall be entitled to vote any and all of the Pledged
      Shares and to give consents, waivers and ratifications in respect thereof,
      provided that no vote shall be cast, no consent, waiver or ratification
      shall be given and no action shall be taken by Pledgor which would violate
      or be inconsistent with any of the terms of the Loan Agreement, the Note,
      or this Agreement, or which would have the effect of impairing the
      position or interests of Pledgee or any holder of the Note. All such
      rights of the Pledgor to vote and to give consents, waivers and
      ratifications shall cease upon the occurrence of an Event of Default.

4.    Dividends. Unless an Event of Default shall have occurred, cash dividends
      with respect to any of the Pledged Shares may


                                       2
<PAGE>
      be paid to and retained by Pledgor. Any other distribution with respect to
      any of the Pledged Shares at any time and any cash dividend with respect
      to any of the Pledged Shares paid after any Event of Default has occurred
      shall be held in trust by Pledgor for the benefit of Pledgee as part of
      the Collateral and shall be promptly paid or otherwise delivered by
      Pledgor to Pledgee at the direction of Pledgee.

5.    Registration. Pledgee may hold the Pledged Shares in the name of Pledgor
      or may at any time or times cause all or any of the Pledged Shares to be
      held in the name of Pledgee or any nominee or agent of Pledgee.

6.    Covenants. Pledgor covenants with Pledgee as follows:

      (a)   Without the written consent of Pledgee, Pledgor will not hereafter
            suffer or allow any lien, security interest, charge, encumbrance or
            claim to arise against or with respect to any Collateral in favor of
            any other person.

      (b)   Pledgor will take such action and execute such financing statements,
            stock powers and other documents as Pledgee may from time to time
            request to maintain a first, perfected security interest on the part
            of the Pledgee in the Collateral (free of all other liens, security
            interests, charges, encumbrances and claims whatsoever) to secure
            payment and other performance of the Obligations and otherwise to
            carry out the intent of this Agreement. Pledgor shall pay the cost
            of filing such financing statements and other documents at such
            locations as Pledgee deems appropriate. A carbon, photographic or
            other reproduction of this Agreement or of a financing statement is
            sufficient as a financing statement.

      (c)   Pledgor will pay any taxes or the fees or charges of any
            governmental authority or agency related to this Agreement,
            including without limitation any documentary, stamp or transfer
            taxes owing in connection with the issuance, transfer or pledge of
            any of the Pledged Shares.

      (d)   Pledgor agrees to deliver to Pledgee promptly upon Pledgor's receipt
            any certificate representing or evidencing any Pledged Shares,
            together with an executed blank stock power for such shares,
            whenever received by Pledgor and if and to the extent not delivered
            by


                                       3
<PAGE>
            Pledgor to Pledgee herewith. Any such certificate shall, in the
            interim, be held in trust by Pledgor for the benefit of Pledgee as
            part of the Collateral.

7.    Preservation of Collateral and Rights in Collateral.

      (a)   Pledgee shall be deemed to have exercised reasonable care in the
            custody and preservation of any Collateral in its possession if it
            takes such action for that purpose as Pledgor requests in writing,
            but failure of Pledgee to comply with any such requests shall not
            itself be deemed a failure to exercise reasonable care, and no
            failure of Pledgee to preserve or protect any rights with respect to
            such Collateral against prior parties, or to do any act with respect
            to the preservation of such Collateral not so requested by Pledgor,
            shall be deemed a failure to exercise reasonable care in the custody
            or preservation of such Collateral.

      (b)   In the event Pledgor fails to make in full and when due any payment
            to any third party which is required by this Agreement to be made by
            Pledgor, Pledgee may, but shall not be obligated to, make such
            payment. The amount of any such payment made by Pledgee shall be
            payable by Pledgor to Pledgee on demand, and Pledgor's obligation to
            pay Pledgee such amount shall be part of the Obligations. The making
            of any such payment by Pledgee shall not satisfy Pledgor's
            obligation to do so or cure any Event of Default arising as a result
            of Pledgee's failure to make such payment in full and when due.

8.    Events of Default. The occurrence of any one or more of the following
      events shall constitute and shall be defined as an "Event of Default"
      hereunder:

      (a)   Any failure by Pledgor (i) to pay in full any installment of
            principal or interest due under the Note within ten (10) days after
            the same becomes due and payable, or (ii) to observe or perform any
            other covenant, agreement or condition under, contained in or
            referred to in this Agreement in accordance with the terms hereof or
            to pay in full any Obligations (other than principal or interest
            under the Note) when due, and continuation of such failure for
            thirty (30) days after the delivery of written notice to Pledgor by
            Pledgee of such failure.


                                       4
<PAGE>
      (b)   The occurrence of any Event of Default under the Loan Agreement or
            the Note, as the term "Event of Default" is respectively defined or
            used therein.

      (c)   Any levy, judicial seizure or attachment of or on any Collateral.

9.    Rights of Parties Upon Default. Upon the occurrence of an Event of Default
      hereunder, all Obligations shall, at the election of Pledgee, become
      immediately due and payable, without notice to Pledgor, together with
      interest thereon as provided in the instruments evidencing or representing
      such Obligations or otherwise applicable thereto and, in addition to
      having all other rights and remedies provided under other provisions
      hereof or under the Loan Agreement or other document, or provided in any
      applicable law, Pledgee shall have the following rights and remedies, any
      of which Pledgee may, but shall not be obligated to, exercise:

      (a)   Transfer all or any part of the Pledged Shares into Pledgee's name
            or the name of Pledgee's nominee or agent.

      (b)   After first obtaining all necessary regulatory approvals, vote all
            or any part of the Pledged Shares and give all consents, waivers and
            ratifications in respect of the Pledged Shares and otherwise act
            with respect thereto as though it were the outright owner thereof.

      (c)   At any time and from time to time, sell, assign and deliver, or
            grant options to purchase, all or any part of the Pledged Shares, or
            any interest therein, at any public or private sale, without demand
            of performance, advertisement or notice of intention to sell or of
            the time or place of sale or adjournment thereof or to redeem or
            otherwise (all of which are hereby waived by Pledgor), for cash, on
            credit or for other property, for immediate or future delivery
            without any assumption of credit risk and for such price or prices
            and on such terms as Pledgee in its absolute discretion may
            determine, provided that unless, in the sole discretion of Pledgee,
            any of the Pledged Shares threaten to decline in value or are or
            become a type sold on a recognized market, Pledgee will give Pledgor
            reasonable notice of the time and place of any public sale thereof,


                                       5
<PAGE>
            or of the time after which any private sale or other intended
            disposition is to be made. Any requirements of reasonable notice
            shall be met if such notice is mailed to the Pledgor at least ten
            (10) days before the time of the sale or disposition. Any sale of
            any of the Pledged Shares conducted in conformity with customary
            practices of banks, insurance companies or other financial
            institutions disposing of property similar to the Pledged Shares
            shall be deemed to be commercially reasonable. Any remaining Pledged
            Shares shall remain subject to the terms of this Pledge Agreement.

      (d)   Collect any and all money due or to become due and enforce in
            Pledgor's name all rights with respect to the Pledged Shares.

Unless prohibited by applicable law, subject to the provisions of Section 17 of
the Loan Agreement and other appropriate confidentiality agreements, the Pledgor
agrees, and agrees to cause the Bank, to give Pledgee, any prospective purchaser
of the Pledged Shares and their respective representatives, full access to
further information (including without limitation records, files,
correspondence, tax work papers and audit work papers) relating to or concerning
Pledgor or the Bank.

10.   Notice. Any notice of any sale, disposition or other intended action by
      Pledgee shall be deemed reasonable if it is in writing and deposited in
      the United States mail ten (10) days in advance of the intended
      disposition or other intended action, first class postage prepaid, and
      addressed to Debtor at its notice address in the Loan Agreement.

11.   Waiver. Waiver by Pledgee of any Event of Default shall not constitute a
      waiver of any other Event of Default, nor of the same Event of Default on
      a future occasion. No delay or omission on the part of Pledgee in the
      exercise of any right or remedy hereunder shall operate as a waiver of
      such right or remedy, nor shall the exercise of any right or remedy
      preclude later or further exercise thereof. All rights or remedies of
      Pledgee on account of the Collateral or on account of any of the
      Obligations, whether arising under this Agreement or otherwise, shall be
      cumulative and nonexclusive of each other, and may be exercised by Pledgee
      at such times and in such order as Pledgee may determine. Pledgor hereby
      waives presentment, demand, diligence, protest, notice of dishonor and any
      other notice with respect to any and all of the Obligations and waives
      acceptance of this Agreement by


                                       6
<PAGE>
      Pledgee, and consents to and agrees that the Obligations and Pledgee's
      rights hereunder shall not be affected by one or more extensions or
      renewals or modifications of any of the Obligations or the exercise of any
      and all rights, powers, options, privileges and authorities granted to
      Pledgee by law or by the terms of any instruments evidencing any
      Obligations or otherwise or the release, substitution and resubstitution
      of any Collateral for the payment of the Obligations. Pledgee may exercise
      its rights with respect to any of the Collateral without resorting or
      regard to any other Collateral or sources of payment of the Obligations.
      No waiver or modification or amendment of the terms of this Agreement
      shall be effective as against Pledgee unless the same is in writing and
      signed by Pledgee.

12.   Choice of Law. This Agreement shall be governed by and construed in
      accordance with the internal laws (and not the conflict of laws
      provisions) of Illinois.

13.   Duration. This Agreement shall remain and continue in effect until all
      Obligations have been fully paid or performed. At such time, Pledgee, at
      the request and expense of Pledgor, will execute and deliver to Pledgor a
      proper instrument acknowledging the termination of this Agreement, and
      will duly assign, transfer and deliver to Pledgor such of the Collateral
      as has not theretofore been sold or otherwise disposed of or otherwise
      applied or released pursuant to this Agreement.

                              PLEDGOR:

                              CITY NATIONAL BANCSHARES CORPORATION

                              By:
                                  --------------------------------
                                    Its President
ATTEST

----------------------
      Secretary

                              PLEDGEE:

                              NATIONAL COMMUNITY INVESTMENT FUND

                              By:
                                  --------------------------------------
                                    Its Authorized Representative


                                       7


                                       1