History of Paterson and its people
'Old Banks' is the name of a site on the western bank of the Paterson River that was the hub of early European activities and settlement in the district. It appears near the bottom of the map of Paterson Plains c1830, and is indicated on Dangar's 1828 map by the symbol of a tent with a flag on top.
In 1804 a permanent penal settlement was established at Newcastle for convicts who had re-offended in the colony. In that same year convict timber-cutters began operating on 'Patersons River' where they were 'severely beat-up by black natives'.