“Over the next several years, we anticipate additional growth from a pull-forward of activity tied to some recent executive orders and expect revenue trends across our environmental finance, affordable housing, and community finance solutions to remain robust.”

In context

“his quarter supported a meaningful acceleration in select capital markets and mortgage revenues. On the right, we highlight five key businesses that have demonstrated strong year-over-year growth and that we believe present a favorable growth outlook. Collectively, these businesses represented approximately two-thirds of our total fee revenue this quarter. Turning to slide five, we spotlight one additional business: Impact Finance. With the Union Bank acquisition, we bolstered our platform, bringing improved tax credit syndication capabilities, new talent, and increased access to the California market. Currently reported within the other revenue, Impact Finance has grown at a 17% CAGR from 2021 to 2024 and is an important mission-driven capability that is core to our fee income portfolio. Over the next several years, we anticipate additional growth from a pull-forward of activity tied to some recent executive orders and expect revenue trends across our environmental finance, affordable housing, and community finance solutions to remain robust. In addition, the business also supports a net tax benefit to the company, which we believe will continue to be a meaningful driver of bottom-line EPS growth. Slide six showcases our growing consumer franchise and long-term deposit strategy. Our deposit base is highly diversified across clients, geographies, and products, providing strength and stability through the cycle. We are actively working to increase our share of consumer deposits with interconnected products like BankSmartly, branch and client center expansions, partnerships, and enhanced marketing and analytical capabilities. Consumer deposits now represent over 52% of total average deposits, up nearly two points from 2023. Moving to Slide seven, our expense discipline over the last two years and execution on Ford's signature pro”