Boston, MA 05/13/2014 (wallstreetpr) – Synovus Financial Corp. (NYSE:SNV) has in the recent press release divulged the financial results for the fiscal quarter Q1 for 2014. The company has performed gracefully in terms of increasing revenues, reducing costs and expenses and growing income. The company has reported a solid first quarter and is off to a good start. Synovus has not only performed well on an annual but also on a quarter-over-quarter basis.
Therefore, it can be safely concluded that the company is moving towards growth and development. If Synovus Financial continues on its path then it would surely achieve greater success and reach greater heights in the near future. Soon, Synovus Financial Corp. (NYSE:SNV) would achieve the top-notch position amongst its class.
Results for Q1 published
Synovus Financial has reported a net income equivalent to the sum of $45.9 million in the Q1 of 2014, which was made available to the common stockholders of the company. The company exceeded its last year’s Q1 net income, which was stated to be $14.8 million and also its last quarter net income of $35.9 million by 27.9%.
Synovus Financial has improved its income on an annual as well as quarterly basis. The company reported diluted net income per share equivalent to $0.05 in the Q1 of 2014, which beats the last year’s diluted net income of $0.02 and last quarter’s $0.04 diluted income per share.
Synovus Financial also reported that the total loans of the company showed a growth of 2.0% annually or of the sum of $101.2 million. The loans grew $190.8 million, excluding the impact of the Memphis transaction. Synovus Financial reported that the credit expenses amounted to the total sum of $17.6 million for Q1 of 2014, which have decreased as compared to the last quarter’s $22.3 million and the last year’s $49.3 million. All in all, Synovus Financial Corp. (NYSE:SNV) has had a great start this year.
