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.