Old National places CFO on leave following criminal charges
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Evansville-based Old National Bank has placed its chief financial officer, Brendon B. Falconer, on leave after he was charged last week with two counts of child molestation.
In a public disclosure filed Monday morning, Old National said it had placed Falconer on leave effective that day “after the company became aware of a situation involving Mr. Falconer related to a personal matter unrelated to the company.”
With $52 billion in assets, Old National is the largest bank based in Indiana. It is also among the 50 largest U.S. banks, according to S&P Global Market Intelligence. The company operates more than 275 branch locations in nine states, including 19 branch locations in the Indianapolis area.
The bank said Chief Strategy Officer John V. Moran IV, 48, will serve as interim CFO.
The statement did not provide any details on the nature of that personal matter, and the bank declined to make any additional comments when contacted Monday by IBJ.
Falconer, 48, lives in the Warrick County town of Newburgh, Indiana.
According to public court records, Falconer was served with a warrant last week on two charges of of felony child molesting. He was released from the Warrick County Jail on Thursday on $4,000 bond, and his initial hearing is scheduled for April 29.
Falconer is being represented by Evansville attorney Heather Burton. Burton did not immediately respond to an email and a phone message from IBJ seeking comment Monday.
Citing the probable cause affidavit in the case, the Evansville Courier & Press reported that the alleged abuse went on for years, and the child’s mother learned of the alleged abuse after reading about it in her child’s diary.
Falconer joined Old National in 2009 and has worked in a variety of roles since then. He was appointed CFO in May 2019.
According to Old National’s 2023 proxy statement, Falconer received $2.7 million in compensation from the bank in 2022, including a base salary of $535,577 plus stock awards, cash incentive awards and other compensation. Old National has not released its 2024 proxy statement, which will contain details about its senior executives’ 2023 compensation.
Shares of Old National were trading at $16.70 each Monday, down 70 cents, or 4%, from Thursday’s closing price.