Cashmere Valley Bank Names Regional Executive Len Devaisher as New CEO
Cashmere, Tuesday, 18 August 2026.
Cashmere Valley Bank has unanimously appointed Len Devaisher as its next President and CEO. Devaisher, who formerly managed $6.3 billion in assets at MidWestOne Bank, takes over Oct. 5.
Leadership Transition Announcement
Cashmere Valley Bank (OTCQX:CSHX) announced on 18 August 2026 that its Board of Directors has unanimously selected Len Devaisher as the next President and Chief Executive Officer [1][2]. The decision follows a national search process conducted by the executive search firm Travillian to identify a successor capable of navigating current macroeconomic headwinds [1][3]. This appointment signals a strategic focus on expanding enterprise growth while maintaining the stability of the Washington state-based community bank [1]. Devaisher is scheduled to join the bank on 5 October 2026, serving as CEO-Elect during a defined leadership transition period [2][3]. He will work alongside current President and CEO Greg Oakes until 31 December 2026, at which point Oakes will retire from his position [1][2]. This structured timeline ensures an orderly handover of responsibilities within the institution [3].
Executive Background and Bank Footprint
Prior to this appointment, Devaisher served as President and Chief Operating Officer of MidWestOne Bank [2][3]. At MidWestOne, he managed an institution that held approximately $6.3 billion in assets before its acquisition by Nicolet Bankshares [1][2]. He also held executive roles at Old National Bank, including serving as the Wisconsin Region CEO [2][3]. Cashmere Valley Bank was established on 24 September 1932 and currently operates 11 retail offices across Chelan, Douglas, Kittitas, and Yakima Counties [2][3]. The bank also maintains a municipal lending office in King County to support its regional operations [1][3]. This regional footprint provides the foundation upon which the new leadership aims to build future growth [1].
Strategic Outlook and Disclosures
John Doyle, Chairman of the Board, stated the Board approached CEO succession with the objective of selecting a leader best equipped to build on the existing strong foundation [1][2]. Doyle noted that Devaisher demonstrated the character and strategic judgment required to serve employees, customers, shareholders, and communities well [3]. Outgoing CEO Greg Oakes expressed confidence in Devaisher’s leadership and character during the transition period [2][3]. The bank’s press release includes forward-looking statements regarding goals and plans which are current only as of the release date [1][3]. The Bank explicitly states it can give no assurance that any goal or plan set forth in forward-looking statements can be achieved [1][3]. Readers are cautioned not to place undue reliance on such statements regarding future performance [1].