Len D. Devaisher is the current interim CEO of MidWestOne Financial Group, taking on the role after a succession plan due to the former CEO's recovery from an accident. Before this position, he served as President and COO since 2020....

Len D. Devaisher is the current interim CEO of MidWestOne Financial Group, taking on the role after a succession plan due to the former CEO's recovery from an accident. Before this position, he served as President and COO since 2020. His leadership comes at a crucial time as the company works on aligning its interests with shareholders through performance metrics focused on earnings. In 2022, his total compensation reached $759,233, primarily from salary and a one-time bonus for continuing his service. Interestingly, he was granted $200,000 in stock options in 2023, indicating a focus on long-term performance. His insider trading activity shows a steady increase in stock transactions from $56.43K in August 2020 to $594.77K by December 2023. This reflects not only his confidence in the company's growth but also his investment in its future. Devaisher's career at MidWestOne positions him uniquely to guide the company through its next chapter, with an emphasis on strong financial performance.

Quick Links

1. Rivals

2. Holdings

3. Insider Trading

4. Compensation History

5. Other MidWestOne Financial Group CEOs

M

Len D. Devaisher

CEO of MidWestOne Financial Group

Sector of Economy

Financial Services

CEO of MidWestOne Financial Group for

2 years 9 months (Aug 2022 - Present)

Previous Experience

Unknown

Rivals

Competitors/colleagues of Len D. Devaisher

F

Van A. Dukeman

CEO of First Busey Corporation

2023 Compensation

Stock

$0.00

Salary

$725.00K

Bonus

$561.88K

Other

$51.10K

Total Holdings

$9.87M

P

Anthony Labozzetta

CEO of Provident Financial Services

2023 Compensation

Stock

$61.82K

Salary

$818.27K

Bonus

$309.38K

Other

$121.55K

Total Holdings

$8.84M

I

Gavin A. Mohr

CEO of Independent Bank Corporation

2023 Compensation

Stock

$65.89K

Salary

$302.00K

Bonus

$70.15K

Other

$45.98K

Total Holdings

$639.88K

U

Jeffrey M. Schweitzer

CEO of Univest Financial Corporation

2022 Compensation

Stock

$0.00

Salary

$806.00K

Bonus

$250.57K

Other

$26.25K

Total Holdings

$2.56M

Holdings

See how much did Len D. Devaisher make over time.

Len D. Devaisher's trading activity reveals significant confidence in MidWestOne Financial Group’s stock, growing from approximately $56.43K in August 2020 to over $850K by September 2024. This sharp increase in his holdings indicates a strong belief in the company’s potential....

Len D. Devaisher's trading activity reveals significant confidence in MidWestOne Financial Group’s stock, growing from approximately $56.43K in August 2020 to over $850K by September 2024. This sharp increase in his holdings indicates a strong belief in the company’s potential. The most notable surge happened recently in December 2024 when he sold stock worth $594.77K. Over time, he has steadily increased his transactions, which peaked in value over the past few years, reflecting a growing confidence in MidWestOne's performance. As he continues in his role, these trading patterns underline a commitment to the firm's success and an alignment with shareholder interests.

Insider Trading

See recent insider trades of Len D. Devaisher.

MOFG

$10.00K

MOFG at $25.00/share

Sep 30, 2024

Purchase

MOFG

8,587.441 shares

MOFG

Feb 15, 2024

Received

MOFG

4,261.339 shares

MOFG

Aug 15, 2023

Received

MOFG

$95.29K

MOFG at $19.06/share

May 2, 2023

Purchase

MOFG

2,583.145 shares

MOFG

Feb 15, 2023

Received

MOFG

2,549.395 shares

MOFG

Feb 15, 2022

Received

MOFG

$46.41K

MOFG at $31.25/share

May 10, 2021

Purchase

MOFG

$465.00

MOFG at $31.00/share

May 6, 2021

Purchase

MOFG

$49.64K

MOFG at $31.52/share

Mar 11, 2021

Purchase

MOFG

2,713.459 shares

MOFG

Feb 15, 2021

Received

Compensation History

See how much did Len D. Devaisher make over time.

In 2022, Len D. Devaisher’s total compensation was $759,233, comprising a base salary of $426,920, alongside a $100,000 bonus as part of a performance agreement. Importantly, he did not receive any stock vesting for that year, showing that he was focused on longer-term performance-based incentives rather than immediate rewards. His compensation plan reflects a design to provide competitive rewards aligned with performance metrics like core earnings per share. Additionally, he was granted $200,000 in stock options in 2023, distributing 50% in performance stock units, which illustrates an ongoing goal to motivate executives towards the company’s growth. As he continues to lead MidWestOne, his compensation structure highlights a commitment to aligning his success with that of the company.

Year

2022

Total Compensation

$543.97K

Salary

$426.92K

Board Justification

To provide competitive compensation that rewards executives for performance and aligns their interests with shareholders.

Bonus

$100.00K

Board Justification

One-time cash bonus contingent on continued employment through December 31, 2022, as outlined in the Amended and Restated Employment Agreement.

Other

$17.05K

Board Justification

Includes perquisites such as automobile allowance and 401(k) match.

Restricted Stock

$0.00(0 RSU)

Board Justification

No stock vested in 2022 as the focus is on performance-based awards that vest over a longer period.

Performance Metrics

Performance metrics include core earnings per share and return on average tangible equity (ROATCE), with specific individual goals for each executive.

Other MidWestOne Financial Group CEOs

Here are other CEOs of MidWestOne Financial Group

Charles N. Funk

Ex-CEO of MidWestOne Financial Group

December 2008 - August 2022