The Bank of the Manhattan Company was established in 1799 in New York City. It was originally created to supply clean drinking water to the city's residents but quickly evolved into a financial institution. The bank played a significant role in the early development of banking in the United States. Over the years, the Bank of the Manhattan Company expanded its services, offering loans and other banking products. It eventually merged with other banks, contributing to the formation of larger financial institutions. Today, its legacy continues through the modern banking landscape in New York.