Cashmere Valley Bank in Wash. hires outsider as CEO

Cashmere Valley Bank in Cashmere, Wash., which has been facing investor pressure to sell, has a new CEO.

The $2.3 billion-asset Cashmere Valley said in a press release that LenDevaisher will join the bank on Oct. 5 and succeed Greg Oakes on Dec. 31.

Devaisher was president and chief operating officer of MidWestOne Bank in Iowa City when it was sold to Nicolet Bankshares in Green Bay, Wis.

Down Range Capital Opportunity Fund, a Pennsylvania hedge fund, disclosed Cashmere Valley’s CEO search in a July letter pressuring the bank to find a buyer.