Security Bank Building (Sioux Falls, South Dakota)
| Company type | Bank |
|---|---|
| Industry | Banking, Financial services |
| Founded | July 8, 1890 |
| Fate | Merged into Northwest Bancorporation in 1929 |
| Successor | Northwest Security National Bank |
| Headquarters | Sioux Falls , United States |
Area served | South Dakota |
The Security Bank Building, frequently referred to as the Security Building, stands as a notable historic commercial structure located at 101 South Main Avenue in the heart of downtown Sioux Falls, South Dakota. Recognized as the state’s inaugural steel-framed office edifice, it gained inclusion on the National Register of Historic Places in 1984 due to its architectural importance and its association with a 1934 bank heist carried out by the Dillinger Gang.
History
During the early decades of the 20th century, Sioux Falls underwent substantial economic expansion, resulting in the emergence of new retail establishments, hotels, office buildings, and high-rise constructions within its downtown area. This growth was partly fueled by the prosperity of Security National Bank, which was initially established on July 8, 1890, under the name State Banking & Trust Company. The institution underwent several renamings before adopting the title Security National Bank of Sioux Falls in 1914.
By the mid-1910s, increasing operational demands necessitated a larger headquarters for the bank. Consequently, they engaged the Chicago-based E. Jackson Casse Company to design a six-story steel-framed office building situated at the intersection of Main Avenue and Ninth Street—an important financial hub. Construction took place between 1915 and 1916 but faced delays due to steel shortages caused by World War I. The building officially opened on January 2, 1917, marking a milestone as South Dakota’s first office building constructed with a steel frame.
In April 1929, Security National Bank became part of the Northwest Bancorporation headquartered in Minneapolis, a conglomerate comprising fourteen banks including five located in South Dakota. At the time of this merger, Security National held assets close to $6 million, while the consolidated entity’s total assets reached $168 million. On August 31, 1935, it was rebranded as Northwest Security National Bank and expanded its operations by incorporating five smaller South Dakota banks as branches: Brookings County Bank (Brookings), First National Bank & Trust (Chamberlain), First National Bank (Dell Rapids), National Bank of Huron, and Northwestern National Bank (Madison). Additional acquisitions followed with Northwestern Bank (Gregory) in 1936 and First National Bank (Pukwana) along with Corn Exchange Savings Bank in 1937.
1934 Dillinger Gang robbery
At approximately 9:50 a.m. on March 6, 1934, six armed members of the Dillinger Gang, wielding Thompson submachine guns, executed a heist at the bank, making off with $46,000. When their green Packard automobile neared the premises, an alert employee triggered the alarm system. Four gang members entered the bank while two others discharged warning shots outside to intimidate bystanders. Officer Hale Keith sustained serious injuries inflicted by George "Baby Face" Nelson but survived his wounds. Responding police officers were swiftly subdued and compelled to face the wall under duress. The gang then used roughly thirty hostages as human shields to secure their escape from the building.
Five employees—Leo Olson, Mildred Bostwick, Emma Knabach, Alice Blegen, and Mary Lucas—were forced to stand on the running board of one of the getaway vehicles to shield the robbers from potential police gunfire. Although briefly considering switching vehicles due to damage sustained by their original car, they ultimately commandeered two additional automobiles during their flight. Olson was released earlier than the others; meanwhile, the remaining four hostages were freed outside of town near Shindler, South Dakota. Despite exchanges of gunfire during their getaway, no fatalities occurred. While gunfire caused some damage to the bank structure itself, none of the stolen funds were ever recovered.
The gang’s criminal activities concluded following John Dillinger’s death at the hands of FBI agents in July 1934; however, whether Dillinger himself participated in this particular robbery remains uncertain. This notorious incident was later dramatized in the 2009 motion picture Public Enemies.
Architecture
Situated at the intersection of Main Avenue and Ninth Street, the Security Bank Building rises six stories and reaches a height of 130 feet, supported by a concrete base. The building's framework consists of structural steel sheathed in Bedford limestone. Crafted in the Classical Revival style by the E. Jackson Casse Company, it showcases four striking Ionic columns flanking the primary entrance along with ornamental cornice details. Extensions on the southern side were completed in 1951 and again in 1957.