Synovus Financial Corp.'s (SNV) first-quarter net income available to common shareholders slid to $14.8 million, from $21.4 million a year ago, whereas quarterly earnings per share remained unchanged at $0.02. On average, 19 analysts polled by Thomson Reuters expected earnings per share of $0.02 for the quarter. Analysts' estimates typically exclude one-time items.
According to the company, the recent quarter's results included restructuring charges of $4.9 million and income tax expense of $17.0 million.
On the other hand, quarterly net interest income after provision for loan losses climbed to $164.12 million, from $154.91 million last year.
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