Evansville, Indiana-based Old National Bank placed its CFO, Brendon Falconer, on administrative leave Monday, nearly a week after he was arrested on two charges of child molestation.
Old National appointed its chief strategy officer, John Moran, to serve as interim CFO, the bank said Monday in an SEC filing.
Moran takes the interim CFO role during his second stint with Old National. He was director of corporate development and strategy for the bank from 2017 to 2019, then left to become CFO at Norwich, New York-based NBT Bank. Moran returned to Old National in 2021, according to his LinkedIn profile.
In addition to his interim CFO duties, Moran will continue to be responsible for Old National’s investor relations and corporate development functions, and will be compensated under his existing arrangement with the bank.
Falconer joined Old National in 2009 and has served as CFO since 2019, according to his LinkedIn profile. He may lose out on stock awards that haven’t fully vested if Old National fires him for "willful engagement in illegal conduct" or if he is convicted “for crimes involving acts of moral turpitude, fraud or dishonesty," American Banker reported, citing the bank’s proxy statement from last year.
Falconer Charged With Felonies
Falconer, 48, was charged March 26 with two felonies — child molesting and child molesting, fondling or touching a child under 14 — according to Warrick Circuit Court documents. Falconer’s initial hearing is set for April 29. He was released Thursday from Warrick County Jail on $4,000 bond, the Indianapolis Business Journal reported.
"We have been made aware of these serious legal charges and are continuing to assess the situation as more information becomes available," Old National Bank said in a statement Thursday.
In Monday’s SEC filing, the bank characterized the matter as “a situation involving Mr. Falconer relating to a personal matter unrelated to the Company.”
Falconer received $2.7 million from Old National in 2022, according to last year’s proxy statement. That includes a base salary of $535,577, plus stock awards, cash incentives and other compensation.