Constructed in 1911 to house the Farmers and Merchants Bank, this building was built under a contract by J. M. Lail and his son S. A. Lail. During the early 1920s, Dr. E. W. Newland built an adjacent structure that shared the east wall of the original bank building. The Newland building used the same type of concrete blocks as the bank but was only half as deep. After years of common ownership, the two buildings were merged in 1988 by opening a passage in the shared wall. In 2004, all but the west- and south-facing walls of the original bank and the east wall of the Newland building were demolished so the entire building could be renovated to its current form.