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Hancock Whitney Establishes New Asset-Based Lending Division

April 04, 2023, 07:05 AM

Hancock Whitney has established a new companywide asset-based lending (ABL) division primarily serving 12 states across the southern United States. Mike Knuckles, an asset-based lending executive with decades of industry experience, will lead the line of business based in suburban Atlanta, GA, and direct all recruiting and hiring.

Hancock Whitney’s asset-based lending division will focus on providing working capital solutions to middle market clients throughout their various business cycles. The division will go to market as Hancock Whitney Business Capital.

“This new division is a significant extension of our core strength in providing banking services and financing to middle market businesses headquartered in the nation’s southern states,” said Hancock Whitney Chief Commercial Banking Officer Eric Obeck. “Mike Knuckles joined Hancock Whitney as the Asset Based Lending Division Manager last year and has spent extensive time creating the required infrastructure to launch this new division.”

Knuckles and his soon to be announced team of experienced ABL professionals will work closely with clients to understand their working capital financing needs and structure financial solutions that will help the businesses attain their financial goals.

Knuckles joined Hancock Whitney after serving as an Executive Vice President responsible for establishing and managing a successful ABL division for another Southeast based regional commercial bank for the past nine years.

“I am excited and grateful to have this opportunity to build out a new asset-based lending line of business for such as prestigious institution as Hancock Whitney. This larger platform will provide a much more dynamic and attractive foundation from which to better serve the targeted market,” said Knuckles.

Knuckles earned his undergraduate degree in finance from the University of Kentucky.

For more asset-based lending industry news, visit ABL Advisor.

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