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Arren Cyganovic

Managing Director and Senior Equity Analyst at Truist Financial Corp.

Arren Cyganovich is a Managing Director and Senior Equity Analyst at Truist Securities, specializing in the U.S. financial sector with broad coverage including banks, consumer lending, specialty finance, REITs, and transportation. He regularly issues ratings on companies such as SLM, ALLY, Discover, PennantPark Floating Rate Capital, OFG Bancorp, Popular, First BanCorp, Main Street Capital, and others—covering over 69 stocks and 19 unique public companies. Cyganovich has achieved an impressive 67% success rate on his recommendations, with an average return of 19.3% per rating and a top 1.5% ranking among Wall Street analysts on platforms like TipRanks. Having joined Truist in the early 2020s after prior research roles, he holds key FINRA securities licenses and regularly appears in institutional coverage lists for major firms. Cyganovich is recognized for high-conviction calls, including a notable 209% return call on OneMain Holdings.

Arren Cyganovic's questions to FIRST BANCORP /PR/ (FBP) leadership

Question · Q3 2025

Arren Cyganovic asked about First BanCorp's loan growth outlook for the fourth quarter, the expected cadence of share repurchases, and the challenges of mainland M&A in Florida given increased competition.

Answer

CEO Aurelio Alemán updated the full-year loan growth guidance to 3-4% (from an original 5%), attributing the adjustment to a slowdown in auto lending, partially offset by mortgage and commercial pipelines. Mr. Alemán and CFO Orlando Berges-González outlined an opportunistic share repurchase approach, with $38 million remaining from the prior authorization and a base assumption of $50 million per quarter through 2026. Mr. Alemán acknowledged that while many banks eye Florida for M&A, opportunities arise, especially as credit cycles evolve in the U.S., emphasizing that timing is crucial for deals.

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