Cogent Bank's Specialty Lending Group Hits Milestone - Cogent Bank

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Cogent Bank’s Specialty Lending Group Hits Milestone

ORLANDO, February 2, 2021 Cogent Bank announced today that its Specialty Lending Group has surpassed $100MM in loan commitments in less than 30 months.

Mike Skat, Executive Vice President of Cogent Bank’s Specialty Lending Group, created a roadmap for how Cogent’s Specialty Lending Group would operate and established aggressive growth goals. During a very difficult 2020, Mike and his team worked hard to not only to grow their portfolio, but also assist with necessary liquidity support for existing borrowers through the PPP loan program and certain restructurings.

The last transaction of 2020 put Cogent’s Specialty Lending Group over $100MM in commitments. “Reaching this milestone took a focused team effort between all members of the division including Abbey Henderson, Cristina Brabson and Gabby Torres. We also received outstanding support from Cogent’s Credit Administration, Loan Operations, the Executive Management Team and our Board,” said Skat.

With offices throughout Florida, Cogent Bank grew to nearly $700MM in total assets by year end 2020 and completed several significant capital raises, positioning the Bank to become a community bank to watch in 2021. The Specialty Lending Group focuses on asset-based lending, lender finance and recurring revenue lending, with transaction size ranging from $1MM to $15MM. Mike and his team can be reached at SpecialtyLending@cogentbank.net Cogent Bank is a state-chartered commercial bank with banking centers in Jacksonville, Orlando, Orange City, Tampa, Clearwater, and Fort Myers. The bank offers its clients a dedicated and experienced relationship management team with deep roots in the communities it serves. Offering robust lending and depository products, along with sophisticated treasury management services, Cogent Bank provides a unique value proposition to its clients through its high-touch, responsive approach to banking. For more information, visit www.cogentbank.net.