Skip to main content

Hancock Whitney Provides $1.7 Billion in SBA Funds to Help Local Businesses

Written by Customer Service on . Posted in Public Companies.

GULFPORT, Miss., April 20, 2020 (GLOBE NEWSWIRE) — During the two weeks during which federal dollars were available for the first round of the U.S. Small Business Administration Paycheck Protection Program (PPP), Hancock Whitney (Nasdaq:  HWC) provided $1.7 billion in SBA-approved funding for 4,893 loans to help local businesses and the people who work for them stay financially afloat amid the economic impacts of the novel coronavirus.
Of the approximate $1.7 billion in funds, 77 percent were for small businesses requesting $350,000 or less, an additional 13 percent were for loans between $350,000 and $1 million, and another 4 percent were between $1 and $2 million.“Our team mobilized quickly and has done an exceptional job processing thousands of applications in a very dynamic and changing environment. We were able to help our small business clients keep their teams employed and ready to reopen,” said Hancock Whitney President and CEO John M. Hairston.Hancock Whitney began accepting applications under the PPP the first day possible, April 3, 2020. Working through evolving SBA guidance, Hancock Whitney bankers worked around the clock to process thousands of applications and access $1.7 billion in funding, which was 85 percent of the total PPP funds requested by Hancock Whitney clients completing applications with the documentation SBA requires.“Our teams continue to work non-stop even after the funds have been exhausted to ensure we are ready to process the applications in our pipeline when the next round of money is available. We will do everything within our control to get the remaining applications through the SBA systems,” added Hairston.Hancock Whitney also continues to offer certain fee and loan payment deferral options to help people and businesses affected financially by the novel coronavirus. More information is available at www.hancockwhitney.com/covid19.About Hancock WhitneySince the late 1800s, Hancock Whitney has embodied core values of Honor & Integrity, Strength & Stability, Commitment to Service, Teamwork, and Personal Responsibility. Part of the Hancock Whitney Corporation Gulf South financial services family, bank offices and financial centers in Mississippi, Alabama, Florida, Louisiana, and Texas offer comprehensive financial products and services, including traditional and online banking; commercial and small business banking; private banking; trust and investment services; healthcare banking; certain insurance services; and mortgage services. The company also operates a loan production office in Nashville, Tennessee, as well as trust and asset management offices in New Jersey and New York. BauerFinancial, Inc., the nation’s leading independent bank rating and analysis firm, consistently recommends Hancock Whitney as one of America’s most financially sound banks. More information is available at www.hancockwhitney.com.For more informationTrisha Voltz Carlson, Investor Relations Manager
504.299.5208 or trisha.carlson@hancockwhitney.comPaul Maxwell, Senior Communications Officer
228.867.8690 or paul.maxwell@hancockwhitney.com

Disclaimer & Cookie Notice

Welcome to GOLDEA services for Professionals

Before you continue, please confirm the following:

Professional advisers only

I am a professional adviser and would like to visit the GOLDEA CAPITAL for Professionals website.

Important Notice for Investors:

The services and products offered by Goldalea Capital Ltd. are intended exclusively for professional market participants as defined by applicable laws and regulations. This typically includes institutional investors, qualified investors, and high-net-worth individuals who have sufficient knowledge, experience, resources, and independence to assess the risks of trading on their own.

No Investment Advice:

The information, analyses, and market data provided are for general information purposes only and do not constitute individual investment advice. They should not be construed as a basis for investment decisions and do not take into account the specific investment objectives, financial situation, or individual needs of any recipient.

High Risks:

Trading in financial instruments is associated with significant risks and may result in the complete loss of the invested capital. Goldalea Capital Ltd. accepts no liability for losses incurred as a result of the use of the information provided or the execution of transactions.

Sole Responsibility:

The decision to invest or not to invest is solely the responsibility of the investor. Investors should obtain comprehensive information about the risks involved before making any investment decision and, if necessary, seek independent advice.

No Guarantees:

Goldalea Capital Ltd. makes no warranties or representations as to the accuracy, completeness, or timeliness of the information provided. Markets are subject to constant change, and past performance is not a reliable indicator of future results.

Regional Restrictions:

The services offered by Goldalea Capital Ltd. may not be available to all persons or in all countries. It is the responsibility of the investor to ensure that they are authorized to use the services offered.

Please note: This disclaimer is for general information purposes only and does not replace individual legal or tax advice.