<PAGE>
                                                                   EXHIBIT 10(e)

                             SECURED PROMISSORY NOTE

$1,000,000.00                                                  Chicago, Illinois

                                                               December 20, 2001

FOR VALUE RECEIVED, the undersigned CITY NATIONAL BANCSHARES CORPORATION, a New
Jersey corporation ("Borrower"), hereby promises to pay to the order of National
Community Investment Fund, a trust ("NCIF"), the principal sum of One Million
and 00/100 Dollars ($1,000,000.00), plus interest on the unpaid principal
balance from time to time outstanding at the rate of Seven Percent (7%) per
annum, payable in Sixteen (16) installments of interest only, to the extent
accrued, on the first day of each January, April, July and October,
successively, from April 1, 2002 to January 1, 2007, inclusive, and Thirty-one
(31) installments of principal of $31,250.00 each, plus interest, to the extent
accrued, on the first day of each January, April, July and October,
successively, from April 1, 2007 to October 1, 2013, inclusive, and One (1)
installment of the entire principal balance outstanding and all accrued but
unpaid interest thereon on January 1, 2014.

Interest shall be calculated on a daily basis using a 360-day year and actual
days elapsed.

Payments of both principal and interest hereunder are to be made in lawful money
of the United States at the office of NCIF at 7054 South Jeffery Boulevard,
Chicago, Illinois 60649, or at such other place as the holder hereof may from
time to time designate in writing. Borrower may prepay part or all of the
principal balance hereof prior to maturity at any time and from time to time
without premium or penalty, provided Borrower has given the holder hereof
written notice of the amount and time of such prepayment at the then most
recently designated address for payments hereunder not less than fifteen (15)
days prior to such prepayment. All such prepayments in part shall be applied to
the installments hereunder in the reverse order of their maturity. All payments
hereunder, including without limitation all prepayments, shall be first applied
to accrued and unpaid interest and then to principal.

This Note has been executed pursuant to the terms of, and is the "Note" under, a
Loan Agreement dated the date hereof (the "Loan Agreement") between NCIF and
Borrower, and any holder hereof shall be entitled to the benefit of the Loan
Agreement. The obligation of Borrower to pay this Note in full when due is
secured by a Pledge Agreement dated the
<PAGE>
date hereof (the "Pledge Agreement") between NCIF and Borrower, and any holder
of this Note shall be entitled to the benefit of the Pledge Agreement.

Any of the following shall constitute an event of default hereunder ("Event of
Default"):

1.    Any failure by Borrower to pay in full any principal or interest under
      this Note when the same becomes due and payable and the continuation of
      such failure for ten (10) days.

2.    An Event of Default under the Loan Agreement or under the Pledge
      Agreement, as the term "Event of Default" is respectively defined therein.

Upon the occurrence of an Event of Default hereunder, the entire unpaid
principal balance hereunder outstanding and all interest accrued thereon shall,
at the election of the holder hereof, immediately become due and payable without
presentment, demand, protest or notice of any kind, all of which Borrower hereby
expressly waives.

Failure or forbearance by the holder of this Note upon the occurrence of any
Event of Default hereunder to avail itself fully or partially of any remedy
provided for herein or in the Loan Agreement or the Pledge Agreement or
otherwise shall not constitute a waiver thereof, but such remedy shall be
available continuously thereafter unless waived in writing by the holder of this
Note. Should it become necessary to collect this Note through an attorney or
otherwise, Borrower hereby agrees to pay all reasonable costs of collection of
this Note, including costs of litigation and reasonable attorneys' fees.

This Note has been made by the undersigned and delivered to NCIF in Chicago,
Illinois and the validity, construction and enforcement hereof shall be governed
in all respects by the internal laws (and not the conflict of laws provisions)
of Illinois.

                              CITY NATIONAL BANCSHARES CORPORATION


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


                                        2
<PAGE>
                      ASSIGNMENT SEPARATE FROM CERTIFICATE

FOR VALUE RECEIVED, the undersigned, City National Bancshares Corporation, a New
Jersey corporation, hereby sells, assigns and transfers to National Community
Investment Fund all of the undersigned's right, title and interest in and to
5,090 shares of Common Stock, $0.10 par value per share, of City National Bank
of New Jersey, a national association, standing in the name of the undersigned
and represented by certificate number ___________ dated _______________________;
and the undersigned hereby irrevocably constitutes and appoints
______________________________________________ Attorney to transfer said shares
on the books of said banking corporation with full power of substitution in the
premises.

                            Dated: December 20, 2001.


                              City National Bancshares Corporation


In the presence of            By:
                                   -------------------------------------
                                          Its President

------------------------------