Exhibit 15.1




The Board of Directors
Broad National Bancorporation:

With respect to the subject registration statement, we acknowledge our awareness
of the use therein of our report dated May 14, 1997 related to our review of
interim financial information.

Pursuant to Rule 436(c) under the Securities and Exchange Act of 1933, such
report is not considered part of a registration statement prepared or certified
by an accountant or a report prepared or certified by an accountant within the
meaning of sections 7 and 11 of the Act.

                                    Very truly yours,

                                    KPMG PEAT MARWICK LLP



Short Hills, New Jersey
June 10, 1997