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The Bank of New Brunswick was chartered in 1820, making it one of the earliest chartered banks in British North America. It operated out of Fredericton and struggled for much of its existence against competition from Saint John-based institutions with far greater commercial reach. The bank was eventually absorbed in 1868.

Perkins, Fairman & Heath — the London firm responsible for this plate — were specialists in siderographic transfer engraving, the anti-counterfeiting technique Jacob Perkins had brought from the United States. Their work in this period was considered among the most difficult to forge, which made them the preferred printer for colonial banks that could afford the transatlantic commission.

The undated "18xx" format indicates the year was left blank for manuscript completion at issue — a common arrangement with Perkins plates for colonial clients.