Ohio-based Peoples Bank has established a new department focused exclusively on providing financial services to upstream (exploration/production) and midstream (transportation/storage/ marketing) energy companies.
Milton Haynes, Peoples Bank vice president, energy, is leading the new department. Haynes is focusing on reserve-based lending, commercial and equipment finance, working capital, treasury management, and investment and insurance services for oil and gas companies.
Haynes joined Peoples Bank in 2011 as vice president of special assets. He has more than 20 years of banking and industry experience. Prior to working with Peoples Bank, Haynes served as a vice president, senior banker, and portfolio manager for energy groups and financial institutions throughout Ohio. Over the years, he has managed the financing of a multitude of oil and gas projects throughout the continental United States.
“There are few banks, this side of the Mississippi, that can serve the energy sector like Peoples Bank,” Haynes said. “For a bank to specialize in upstream and midstream energy businesses is very rare. Most banks are strictly focused on working with landowners and leasing royalties. While we work with landowners and leasing royalties, we go beyond that and serve companies as a whole.”
In addition to his banking career, Haynes spent five years with an oil and gas production company, and two years as a private industry consultant. He is a member of the Ohio Oil & Gas Association, the Society of Petroleum Engineers, and is a graduate of Marietta College.