MidWestOne Financial Group named Len D. Davaisher interim CEO on Aug. 12 while outgoing CEO Charlie Funk recuperates from a “serious bicycling accident,” according to an SEC report filed Aug. 15. The filing shows Mr. Davaisher will continue as president and COO, positions he has held since July 2020. An update about Mr. Funk’s condition […]
MidWestOne Financial Group named Len D. Davaisher interim CEO on Aug. 12 while outgoing CEO Charlie Funk recuperates from a "serious bicycling accident," according to an SEC report filed Aug. 15.
The filing shows Mr. Davaisher will continue as president and COO, positions he has held since July 2020.
An update about Mr. Funk's condition was posted online on Aug. 16: "Charlie was in a serious biking accident in the Pender Island of British Columbia on Monday, Aug. 8th. He broke his neck and sustained a spinal cord injury. He was airlifted to Vancouver General Hospital and had surgery performed by an incredible surgeon and person, Dr. Brian Kwon. Charlie has been recovering in the ICU since that time. He is stable, and is receiving high-quality, compassionate medical care. Connie and his three daughters, Katie, Jennie and Emily, are in Vancouver and working as a team to keep his spirits high. The family is working through plans to have him repatriated back into the United States as soon as it is safe to do so, where he will be admitted into a specialty inpatient rehabilitation program."
Len D. Devaisher will assume the role of interim CEO for MidWestOne.
Prior to his current positions, he served as VP for resource development for the United Way of Dane County and worked for Old National Bank in various roles from 2001-2019. He was also COO for Young Life from 2010-2013.
The decision follows the company's "established succession plan" after it was announced in February that Mr. Funk would retire later this year, according to the filing.
Charlie Funk was expected to step down from CEO this year. CONTRIBUTED PHOTO
Mr. Funk joined MidWestOne in November 2000 and has served as CEO since March 2008. He was president of the company and the bank from November 2000 to July 2020. During his 42-year career, he also worked for three other Midwest-based banks.
MidWestOne Financial Group Inc. is a financial holding company headquartered in Iowa City. MidWestOne is the parent company of MidWestOne Bank, which operates banking offices in Iowa, Minnesota, Wisconsin, Florida and Colorado.
Updated Aug. 24
