The Isle of Man Banking Company opened for business for the first time in Douglas in November 1865. Prior to their arrival the Isle of Man had just two banks: Dumbell, Son & Howard (est. 1848) and Bank of Mona (est.1849). Both of these existing banks had suspended payment in 1857. The leading businessmen and officials who promoted the Isle of Man Banking Co. recognised that the island needed a stronger bank to serve the needs of the growing Manx economy. During the years after its foundation the island flourished with the improvement of the harbour and promenade at Douglas and the establishment of an island railway. This short history details the story of the Bank through its first sixty years.