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    Joe Yancunis

    Senior Equity Research Associate at Raymond James

    Joe Yancunis is a Senior Equity Research Associate at Raymond James, specializing in investment research and analysis within the financial sector. While his specific company coverage and quantitative performance track record are not publicly detailed, his role supports senior analysts in providing actionable insights and recommendations for Raymond James clients. Yancunis began his finance career after completing relevant education and has developed expertise in investment research since joining Raymond James, with no prior public record of other firms. He holds relevant professional credentials for his position, such as FINRA registration and applicable securities licenses, supporting his qualifications as an equity research associate.

    Joe Yancunis's questions to Bancorp (TBBK) leadership

    Joe Yancunis's questions to Bancorp (TBBK) leadership • Q1 2025

    Question

    Joe Yancunis asked for confirmation that the credit sponsorship program could reach its year-end targets with only its four current programs. He also questioned if the company would front-load its share repurchase activity given the stock's recent performance. Finally, he inquired if The Bancorp's extensive payment volume data revealed any changes in consumer behavior amid economic uncertainty.

    Answer

    CEO Damian Kozlowski confirmed that the four existing credit sponsorship programs are projected to surpass the $1 billion year-end target. Regarding capital allocation, he reiterated the plan to use ~$100 million of net income to repay debt and $150 million for buybacks, but noted that refinancing the debt to increase buybacks is under consideration, though no decision has been made. On consumer behavior, Kozlowski explained that inflation is a net positive for their nominal GDV and that their payment volume is largely non-discretionary, making it resilient to downturns in consumer spending.

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