I have a series of numbers representing sixteen bit binary:

0010110110001001
0011111110001001
0100000100010001
0100010011010000
In the next column I have a formula: =IF(BIN2DEC(MID(A1,2,1))=1, "NET",
"OpID")

The contents of the third column would depend on the result of this formula
such that if the second contains "OpID" this one will contain "Private".
However, if the second column value is "NET" then I need to look at
BIN2DEC(MID(A1,3,2))) and make the third column value "National" if this
evaluates to 1 or 2 but "Private" if any other value is returned.

Is it possible to nest If statements to do this or would I have to evaluate
it in separate steps?