Midland National Bank opened on March 3, 1893, in a building on the northeast corner of Fifth and Main, with Grant Hornaday as president, J.H. McNair as vice-president, and Don Kinney as cashier. The bank purchased this site in 1896 for $6000 and moved here in 1907. A stone wall from Peter Luhn's 1876 Pioneer Store, uncovered in 1977, remains visible inside the bank. Herman E. Suderman, born in 1873 and a Russian immigrant of 1885, began banking at age 13 as a janitor and messenger for the German National Bank. He joined Midland National Bank in 1902, was elected a director and vice-president in 1903, purchased the controlling interest in 1916, and became president three years later. He remained president until his son John C. succeeded him in 1954. James H. and John R. Suderman are the bank's third-generation officers. The building was extensively remodeled in 1907, 1922, and 1977.