Efficiently controlled converter system embodiments are provided to operate in different operational modes. In a first operational PWM mode, first and second transistors are switched with a feedback-controlled duty cycle to thereby realize an inductor current that maintains a system output voltage. In a second operational PFM mode, after the output voltage decays to a lower threshold over a decay time, the control and synchronous transistors are driven a sufficient number of times to raise the output voltage to an upper threshold. The systems are controlled to efficiently transition between the first and second operational modes. For example, a converter system preferably transitions to the second PFM operational mode when current peaks of the inductor current drop below a predetermined current threshold and the system preferably transitions to the first PWM operational mode when the output voltage drops to a predetermined reference voltage.