Synovus Financial (NYSE: SNV) reported Q1 EPS of $0.98, $0.09 better than the analyst estimate of $0.89. Revenue for the quarter came in at $476.48 million versus the consensus estimate of $463.93 million.

• Diluted EPS of $0.72; adjusted diluted EPS of $0.98, up 7.6% sequentially and 15.1% year over year.
• Organic loan and deposit growth1 of $400.1 million and $423.7 million, respectively.
• Return on average assets (ROA) of 1.06%, adjusted ROA of 1.45%.
• Return on average common equity (ROE) of 10.98%, adjusted ROE of 15.03%.
• Adjusted return on average tangible common equity (ROATCE) of 17.52%.
• Non-performing asset (NPA) ratio of 0.44%.
• Efficiency ratio of 61.29%, adjusted tangible efficiency ratio of 50.24%.
• Completed acquisition of FCB Financial Holdings, Inc.; merger-related expenses impacting EPS by $0.27.
• Completed issuance of $300 million in subordinated debt.
• Executed share repurchases of $320 million or 8.5 million shares.

“We are pleased with our first quarter results, with solid gains in earnings per share, balanced growth in loans and deposits, and strong contributions from our newly acquired FCB franchise,” said Kessel D. Stelling, Synovus chairman and CEO. “We continued to demonstrate prudent expense discipline while investing in a number of strategically important initiatives, including transforming our digital capabilities, improving the customer experience, and recruiting and investing in high-performing talent. We also continued our capital optimization program by executing $320 million in share repurchases.

“As the May 6 FCB conversion date approaches, we are very pleased with the crisp execution of the FCB integration, including seamless alignment of our teams into an efficient and synergistic operating model, successful retention of key customers and team members, and realization of merger-related cost savings ahead of plan,” Stelling concluded.

For earnings history and earnings-related data on Synovus Financial (SNV) click here.