MidWestOne Financial in Iowa City, Iowa, has hired an outsider as its new president.
The $4.8 billion-asset company said in a press release Monday that Len Devaisher will also become its chief operating officer on July 27. Devaisher will have the same positions at MidWestOne Bank.
Devaisher previously served as vice president of resource development at the United Way of Dane County. Before that he was CEO of the Wisconsin region for Old National Bancorp.
Devaisher will succeed Charles Funk, who will remain CEO of the company and the bank.
The board “invested considerable time and diligence in their search to find the necessary expertise and strength of character needed to move the company forward,” Kevin Monson, MidWestOne’s chairman, said in the release.
