A bank with a West Michigan presence is shuffling its executive team as its current CEO retires.
Evansville, Indiana-based Old National Bank, which has 11 branches in West Michigan, said this week its CEO Bob Jones will retire effective May 2 and be succeeded by Jim Ryan, the bank’s current CFO.
Current board treasurer Brendon Falconer will move into the role of CFO. A new treasurer has not been named.
Jones will continue as board chair through January 2020.
The bank said Jim Sandgren will continue as president and COO.
“Throughout my 14 years at Old National, I have drawn energy and excitement from seeing the entire organization, and the tremendous people I have worked alongside, grow and thrive,” Jones said.
“As I prepare to turn the mantle over to Jim Ryan and an outstanding team of executive leaders, I’m still fueled by that same sense of energy and excitement. The future of Old National is incredibly bright.”
Becky Skillman, independent lead director of Old National Bank’s board, said Jones has made an unparalleled contribution to the bank.
“Under his guidance, Old National has grown into one of the most successful mid-sized banks in the Midwest,” Skillman said.
“I’m proud to say, Old National’s transition to a new leadership model with Jim Ryan as CEO is the result of a robust, multi-year succession plan process, and I am confident that stakeholders are in tremendous hands.”
Ryan said he is “humbled and honored” to be chosen as the bank’s next CEO.
“Working alongside an amazing group of leaders, I look forward to doing my part to continue to build on the momentum we have created,” Ryan said.
As CFO, Ryan helped Old National expand in Ann Arbor and Grand Rapids, Madison, Wisconsin and Minneapolis and St. Paul, Minnesota.
A native of Michigan, he joined the bank in 2000 as assistant treasurer and was later promoted to treasurer. In 2007, he spearheaded Old National’s acquisition of St. Joseph Capital Corp. In 2009, he became director of corporate strategy and development.
In 2016, Ryan was promoted to CFO while maintaining responsibility for corporate strategy.
He holds a B.B.A. from Grand Valley State University.
Falconer joined Old National in 2009 as bank controller and has served in several leadership roles since, including overseeing the bank’s acquisition of Evansville, Indiana-based Integra Bank, director of credit operations and director of management reporting.
Falconer holds a B.S. in accounting from Kent State University and an M.B.A. from Indiana State University.
During Jones’s tenure, Old National was recognized seven times (2012-2018) as one of the Ethisphere Institute’s “World’s Most Ethical Companies,” and American Banker magazine recognized the company twice as a “Great Place to Work.”
Jones became CEO of Old National in 2004. Prior to that, he served for 25 years at KeyCorp in Northern Ohio.
Old National Bancorp (Nasdaq: ONB) is the holding company for Old National Bank, founded in 1834.
The bank’s footprint includes Indiana, Kentucky, Michigan, Wisconsin and Minnesota.
It offers retail and commercial banking, wealth management, investment and brokerage services.
The bank had $19.5 billion in assets as of Sept. 30, 2018.