MidWest One Financial Group CEO Charles Funk's 2021 pay jumps 22% to $1.2M
MidWest One Financial Group reports 2021 executive compensation
By ExecPay News
Published: March 15, 2022
MidWest One Financial Group reported fiscal year 2021 executive compensation information on March 15, 2022.
In 2021, six executives at MidWest One Financial Group received on average a compensation package of $662K, a 24% increase compared to previous year.
Average pay of disclosed executives at MidWest One Financial Group
Charles N. Funk, Chief Executive Officer, received $1.2M in total, which increased by 22% compared to 2020. 44% of Funk's compensation, or $511K, was in salary. Funk also received $366K in non-equity incentive plan, $250K in stock awards, as well as $29K in other compensation.
For fiscal year 2021, the median employee pay was $58,751 at MidWest One Financial Group. Therefore, the ratio of Charles N. Funk's pay to the median employee pay was 20 to one.
Len D. Devaisher, Chief Operating Officer, received a compensation package of $803K, which increased by 32% compared to previous year. 49% of the compensation package, or $395K, was in salary.
Barry S. Ray, Chief Financial Officer, earned $603K in 2021, a 26% increase compared to previous year.
Gary L. Sims, Executive Vice President Chief Credit Officer, received $476K in 2021, which increases by 24% compared to 2020.
David E. Lindstrom, Executive Vice President, Retail Banking, earned $466K in 2021, a 19% increase compared to previous year.
James M. Cantrell, Chief Investment Officer, received $465K in 2021, which increases by 21% compared to 2020.
Related executives
Charles Funk
MidWest One Financial Group
Chief Executive Officer
Len Devaisher
MidWest One Financial Group
Chief Operating Officer
Barry Ray
MidWest One Financial Group
Chief Financial Officer
James Cantrell
MidWest One Financial Group
Chief Investment Officer
Gary Sims
MidWest One Financial Group
Executive Vice President Chief Credit Officer
David Lindstrom
MidWest One Financial Group
Executive Vice President, Retail Banking
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Source: SEC filing on March 15, 2022.