According to G.T. Ridlon, author of Saco Valley Settlements, "The original plantation of Little Falls included what is now Hollis, Dayton, and that part of Limington south of Little Ossipee river."

Early settlement was slow "in consequence of the uncertainty of titles, the boundaries of the original grants being a matter of dispute...In 1790 the population had increased to about 600 souls. The town was incorporated Jan. 27, 1798, by the name of Phillipsburgh..." The towns people soon determined the name Phillipsburgh was too awkward. "In 1811 the unwieldy name was exchanged for Hollis."

Founders of Hollis, according to G.T. Ridlon, included Andrew and John Gordon, Col. John Smith, Capt. Jonathan Bane, Joseph Leland, Daniel Granger, James and Thomas Redlon, Daniel Field, Ichabod Cousins, Thomas Lewis, Caleb Kimball Daniel Smith, Noah Haley, Shubael Woodman, Joshua Warren, John Haley, Col. Abijah Usher, John Lane, Nathaniel Dunn, and Stephen Hopkinson.