What changed in this filing

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Item 1A. Risk Factors

2026-02-27 compared with 2025-02-28 · 64 added, 65 removed, 302 unchanged (30% of the section changed)

We, like other financial institutions, face risks inherent to our business, results of operations, and financial condition.

The risks below address factors of which we are currently aware that could impact us materially by causing actual results to differ from our historical results or the results contemplated by the forward-looking statements contained in this Form 10-K.

We, like other financial institutions, face numerous risks inherent to our business, results of operations, and financial condition, many of which are beyond our control.

The risk factors described below relate to known risks that could materially impact our business, results of operations, financial condition and the outcome of any matter as to which forward-looking statements contained in this Form 10-K are made.

Although these risks are organized by headings and each risk is discussed separately, many are interrelated.

In addition, there may be additional risks that may impact us materially that are not presently known, that are not currently believed to be significant, or that are common to all businesses.

Risks Related to Geopolitical Uncertainties

In addition, there may be additional risks and uncertainties that may materially impact us in an adverse manner that are not presently known, that are not currently believed to be significant, or that are common to all businesses.

Risks Related to Geographic and Political Uncertainties

Unfavorable general economic, market, political or industry conditions, either domestically or internationally, may adversely affect our business, results of operations, and financial condition.

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The Bank’s international presence includes locations in Hong Kong, China and Singapore.

Our presence in Asia carries certain risks, including risks relating to our ability to generate revenues from foreign operations and to leverage and conduct business on an international basis, due to legal, regulatory, and tax requirements and restrictions, including restrictions relating to transactions involving access to certain data by persons outside of the U.S.;

tariffs, trade barriers, or other trade restrictions;

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For example, economic trade and political tensions, including tariffs and other punitive trade policies and disputes between the U.S.

and China pose a risk to our business and customers.

On February 1, 2025, the Trump administration announced the imposition of a 10% tariff on imports from China and a 25% tariff on imports from Mexico and Canada.

However, the tariffs on Mexico and Canada have been temporarily paused for 30 days following agreements from both countries.

The timing and extent of these trade policy changes remain subject to further developments.

and other countries pose a risk to our business and customers.

During 2025, the U.S.

significantly increased tariffs on various trading partners, however, some of these tariffs were subsequently reversed or reduced.

The timing and scope of future policy shifts remain uncertain.

The imposition of tariffs, retaliatory tariffs, export controls or other trade restrictions on products, materials or other goods that our customers import or export could impact prices, reduce demand, or otherwise negatively impact our customers’ businesses and their ability to service debt.

We may also experience a decrease in the demand for loans and other financial products or a deterioration in the credit quality of the loans extended to customers in industry sectors that are most sensitive to the trade restrictions.

Further, a downturn in economic growth and real estate markets in China and volatility in the Shanghai and Hong Kong stock exchanges, among other things, may negatively impact asset values and the profitability and liquidity of our customers operating in this region.

Further, a downturn in economic growth, or in stock or real estate markets in Asia, among other things, may negatively impact asset values and the profitability and liquidity of our customers operating in that region.

These risks could adversely affect the success of our international operations and could have a material adverse effect on our overall business, results of operations, and financial condition.

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Failure to comply with such laws and regulations could, among other things, result in enforcement actions and fines against us, limitations on our conduct and reputational harm, any of which could have a material adverse effect on our business, results of operations and financial condition.

Changes in such laws and regulations, regulatory oversight, foreign exchange controls, tariffs, or geopolitical conflict also may adversely impact our international operations.

Natural disasters, the effects of climate change and geopolitical events beyond our control could adversely affect our business, results of operations, and financial condition.

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Real estate values and real estate markets are generally affected by changes in general economic conditions and employment levels, fluctuations in interest rates, the availability of loans to potential purchasers and the availability and demand for types of real property investments, changes in tax laws and other governmental statutes, regulations and policies, and natural disasters, such as wildfires and earthquakes, which are particularly prevalent in California, where a significant portion of our real estate collateral is located.

For example, during 2024, the commercial real estate (“CRE”) market remained under pressure, primarily from decreased demand for office space, which affected the demand for CRE loans and loan performance.

If real estate values decline, the value of real estate collateral securing our loans could be significantly reduced.

Our ability to recover on defaulted loans by foreclosing and selling the real estate collateral would be further diminished, and we would be more likely to suffer losses on defaulted loans.

Furthermore, CRE and multifamily residential loans typically involve larger balances to single borrowers or groups of related borrowers.

Since payments on these loans are often dependent on the successful operation or management of the properties, as well as the business and financial condition of the borrowers, repayment of such loans may be subject to adverse conditions in the real estate market, adverse economic conditions, shifts in demand for different types of properties, or changes in applicable government regulations.

Furthermore, commercial real estate (“CRE”) loans typically involve larger balances to single borrowers or groups of related borrowers.

Payments on these loans are often dependent on the successful operation or management of the properties, as well as the business and financial condition of the borrowers.

Repayment of such loans may be subject to adverse conditions in the real estate market such as declining property values, rising interest rates, higher vacancy rates or tenant defaults, adverse economic conditions, shifts in demand for different types of properties, or changes in applicable government regulations.

Borrowers’ inability to repay such loans may have an adverse effect on our business, results of operations and financial condition.

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Because of the differences in maturities and repricing characteristics of our interest-earning assets and interest-bearing liabilities, changes in interest rates do not produce equivalent changes in interest income earned on interest-earning assets and interest expense paid on interest-bearing liabilities.

Rising interest rates may cause our funding costs to increase at a faster pace than the yield we earn from our assets, ultimately causing our net interest margin to decrease.

Higher interest rates may also result in lower loan production and increased charge-offs in certain segments of the loan portfolio.

Declining interest rates could lead to higher loan refinancing activity, which, in turn, would increase the likelihood of prepayments of loans and mortgage related securities.

Rising interest rates may cause our funding costs to increase at a faster pace than the yield we earn from our assets, which would cause our net interest margin to decrease.

Higher interest rates may also result in lower loan production and increased charge-offs in certain segments of our loan portfolio.

Falling interest rates may put negative pressure on net interest margin if interest-earning assets reprice faster than interest-bearing liabilities.

Declining interest rates could also lead to higher loan refinancing activity, which, in turn, would increase the likelihood of prepayments of loans and mortgage related securities.

Changes in interest rates also impact the value of our investments in debt securities, particularly debt securities with longer maturities.

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Inflation can have an adverse impact on our business and on our customers.

Inflation risk is the risk that the value of assets or income from investments will be worth less in the future as inflation decreases the value of money.

Recent data has indicated the pace of inflation in the U.S.

is slowing and the Federal Reserve has begun to cut the federal funds rate.

However, the future rate of inflation and other economic factors remain uncertain, and the Federal Reserve may decrease or increase interest rates slower or faster than anticipated.

If inflation increases and interest rates rise, the value of our investment securities, particularly those with longer maturities, will decrease, although this effect is less pronounced for floating rate instruments.

Inflation results in the value of assets or income from investments being worth less in the future due to a decrease in the value of money.

Interest rates are likely to be higher during periods of elevated inflation and, together, these factors typically cause the value of our investment securities, particularly those with longer maturities, to decrease, although this effect is less pronounced for floating rate instruments than for fixed-rate instruments.

Prolonged periods of inflation also may impact our profitability by negatively impacting our costs and expenses, including increasing funding costs and expenses related to talent acquisition and retention, and negatively impacting the demand for our products and services.

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Its policies determine in large part the cost of funds for lending and investing and affect the return earned on those loans and investments, both of which in turn affect our net interest margin.

They can also materially decrease the value of financial assets we hold.

It can also materially decrease the value of financial assets we hold.

Federal Reserve policies may also adversely affect borrowers, potentially increasing the risk that they may fail to repay their loans, or could adversely create asset bubbles resulting from prolonged periods of accommodative policy.

This, in turn, may result in volatile markets and rapidly declining collateral values.

Changes in Federal Reserve policies are beyond our control.

Changes in Federal Reserve personnel and policies are beyond our control.

Consequently, the impact of these changes on our business, results of operations and financial condition is difficult to predict.

While we monitor and manage exposure to changes in monetary policy through asset liability management and risk mitigation strategies, there can be no assurance that shifts in monetary policy, including as a result of the appointment of a new Chairman of the Federal Reserve, will not adversely affect our business, results of operations, and financial condition.

Further downgrades of the U.S.

credit rating, potential automatic spending cuts or a government shutdown could negatively impact our business, results of operation and financial condition.

credit rating, potential automatic spending cuts or government shutdowns could negatively impact our business, results of operations and financial condition.

Over the past few years, U.S.

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credit rating downgrades and economic slowdowns, or a recession in the U.S.

As the federal debt level rises and interest rates remain elevated, the cost of servicing the debt may increase and the perceived creditworthiness of the U.S.

As the federal debt level rises and interest rates remain at elevated levels, the cost of servicing the debt may increase and the perceived creditworthiness of the U.S.

government may decrease.

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and global financial markets and economic conditions.

Adverse political and economic conditions could have an adverse effect on our business, results of operation and financial condition.

Adverse political and economic conditions could have an adverse effect on our business, results of operations and financial condition.

We are subject to fluctuations in foreign currency exchange rates.

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Risks Related to Our Capital Resources and Liquidity

As a regulated entity, we are subject to capital requirements, and a failure to meet these standards could adversely affect our financial condition.

We and the Bank are subject to certain capital and liquidity rules, including the Basel III Capital Rules, which establish the minimum capital adequacy requirements and may require us to increase our regulatory capital or liquidity targets, increase regulatory capital ratios, or change how we calculate regulatory capital.

We may be required to increase our capital levels, even in the absence of actual adverse economic conditions or forecasts, and enhance capital planning based on hypothetical future adverse economic scenarios.

As a regulated entity, we are subject to capital requirements, and failure to meet these standards could adversely affect our financial condition.

We and the Bank are subject to certain capital and liquidity rules, including the Basel III Capital Rules, which establish the minimum capital adequacy requirements and may require us to increase our regulatory capital levels and/or targets even in the absence of actual adverse economic conditions or forecasts, and enhance capital planning based on hypothetical future adverse economic scenarios.

As of December 31, 2025, we met the requirements of the Basel III Capital Rules, including the capital conservation buffer.

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In addition, our counterparties, as well as our clients, rely on our financial strength and stability and evaluate the risks of doing business with us on a regular basis.

If we experience a decline in our credit ratings, this could result in a decrease in the number of counterparties and clients who may be willing to transact with us.

A decline in our credit ratings could result in a decrease in the number of counterparties and clients who may be willing to transact with us.

Our borrowing costs may also be affected by various external factors, including market volatility and concerns or perceptions about the financial services industry.

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The proportion of our deposit account balances that exceed FDIC insurance limits may expose us to enhanced liquidity risk.

A significant factor in the 2023 bank failures may have been the proportion of the deposits held by institutions that exceeded applicable FDIC insurance limits, and the withdrawal of such deposits over a short period of time.

The ease and speed of the electronic withdrawals may accelerate this process.

Deposits that exceed applicable FDIC insurance limits, and the possibility of the withdrawal of such deposits over a short period of time, pose a liquidity risk and have been a source of instability in the banking system during prior periods of stress.

The ease and speed of the electronic withdrawals may increase this risk.

If a significant portion of our deposits were to be withdrawn within a short period of time such that additional sources of funding would be required to meet withdrawal demands, we may be unable to obtain funding at favorable terms, which may have an adverse effect on our net interest margin.

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We establish an allowance for credit losses in accordance with U.S.

Generally Accepted Accounting Principles (“GAAP”), which includes the allowance for loan losses and the reserve for unfunded credit commitments.

Our allowance for loan losses is based on our evaluation of risks associated with our loans held-for-investment portfolio, including historical loss experience, current borrower characteristics, current economic conditions, reasonable and supportable forecasts of future economic conditions, delinquencies, performing status, the size and composition of the loan portfolio, and concentrations within the portfolio.

Generally Accepted Accounting Principles (“GAAP”), which includes the allowance for loan and lease losses (“ALLL”) and the reserve for unfunded credit commitments.

Our ALLL is based on our evaluation of risks associated with our loans held-for-investment portfolio, including historical loss experience, current borrower characteristics, current economic conditions, reasonable and supportable forecasts of future economic conditions, delinquencies, performing status, the size and composition of the loan portfolio, and concentrations within the portfolio.

The allowance estimation process requires subjective and complex judgments, including analysis of economic conditions and how these economic conditions might impair the ability of our borrowers to repay their loans.

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and in the international markets could result in, among other things, greater than expected deterioration in credit quality of our loan portfolio or in the value of collateral securing these loans.

Due to the inherent risk associated with accounting estimates, our allowance for loan losses and our reserve for losses associated with our unfunded credit commitments, which is determined using a similar methodology as that used to establish our allowance for loan losses, may not be adequate to absorb actual losses, and future provisions for such losses could have a material adverse effect on our business, results of operations, and financial condition.

Due to the inherent risk associated with accounting estimates, our ALLL and our reserve for losses associated with our unfunded credit commitments, which is determined using a similar methodology as that used to establish our ALLL, may not be adequate to absorb actual losses, and future provisions for such losses could have a material adverse effect on our business, results of operations, and financial condition.

We may be subject to increased credit risk and higher credit losses to the extent our loans are concentrated by loan type, industry segment, borrower type, or location of the borrower or collateral.

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If any industry, market sector, or collateral type were to experience economic difficulties, loan collectability from customers operating in those industries or sectors or holding such collateral types may deteriorate, which could have a material adverse impact on our business, results of operations, and financial condition.

A portion of our lending portfolio is made to non-depository financial institutions to fund their lending activities.

Adverse conditions affecting these entities or broader market conditions could result in increased credit risk to us.

In addition, a downturn in sectors served by these institutions could increase credit risk to us and negatively impact our business, results of operations, and financial condition.

Risks Related to Our Operations

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Our business is highly dependent on the security and efficacy of our infrastructure, computer, network and data management systems, as well as those of third parties with which we interact.

We face risks of loss resulting from, but not limited to, errors relating to transaction processing and technology, breaches of our internal control system or external compliance requirements, fraud or unauthorized transactions by employees or third parties, cybersecurity incidents, business continuation and disaster recovery.

The potential for operational loss exposure exists throughout our organization and among our interactions with third parties, and are expected to increase as we expand our interconnectivity with our customers and other third parties.

The potential for operational loss exposure exists throughout our organization and among our interactions with third parties, and is expected to increase as we expand our interconnectivity with our customers and other third parties.

Any of these operational risk exposures, if realized, could adversely impact our results of operations, financial condition, cash flows, and liquidity, and result in regulatory action, significant litigation exposure and harm to our reputation.

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Our business and many of our customers may have experienced, and may experience again in the future, losses incurred due to fraud or theft related to customers, employees or third parties.

These losses may negatively affect our business, results of operations, financial condition, reputation or prospects.

These losses may negatively affect our business, results of operations, financial condition, reputation and prospects.

We have limited ability to assure the safety and security of our customers’ transactions with us to the extent our customers are using their own devices or are a victim of cyberattacks, fraud or other scams by threat actors.

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We may face risks associated with the utilization of information technology systems to support our operations effectively.

The financial services industry is continuously undergoing rapid technological change with frequent introductions of new technology-driven products and services, including financial technology and non-banking entities.

The effective use of technology increases efficiency and enables financial institutions to better serve customers and to reduce costs.

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Many of our competitors have substantially greater resources to invest in technological solutions.

We may not be able to effectively implement new technology-driven products and services or be successful in marketing these products and services to our customers.

We may not be able to effectively implement new technology-driven products and services or be successful in marketing these products and services to our customers, and our efforts to use technological developments to improve the efficiency of our operations may not be effective or may lag our competitors.

Failure to successfully keep pace with technological change affecting the financial services industry could have a material adverse impact on our business and, in turn, our results of operations and financial condition.

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Regulatory changes could also adversely impact our ability to access funding, increase the cost of funding, limit our access to capital markets, and negatively impact our overall financial condition.

The 2023 bank failures also resulted in a special assessment by the FDIC to replenish the DIF.

Our controls and procedures could fail or be circumvented.

Management regularly reviews and updates our internal controls, disclosure controls and procedures, and corporate governance and enterprise risk management (“ERM”) policies and procedures.

Any system of controls, however well designed and operated, is based in part on certain assumptions and can provide only reasonable, but not absolute, assurances of the effectiveness of these systems and controls, and that the objectives of these controls have been met.

Any failure or circumvention of our controls and procedures, and any failure to comply with regulations or supervisory expectations related to controls and procedures could adversely affect our business, results of operations, and financial condition.

Our enterprise risk management program may not be effective at mitigating the risks to which we are subject, based upon our size, scope, and complexity.

We have established processes and procedures intended to identify, measure, monitor, report, and analyze the types of risk to which we are subject, including capital, market, liquidity, credit, operational, compliance, legal, strategic, technology and reputational risks.

Although we seek to manage our exposure to such risks, and employ a broad and diverse set of risk monitoring and mitigation techniques in the process, those techniques are inherently limited because they cannot anticipate the existence or development of risks that are currently unknown or unanticipated.

The 2023 bank failures also resulted in a special assessment by the FDIC to replenish the DIF, which has increased our deposit insurance costs.

Our enterprise risk management program, and our controls and procedures, may not be effective at mitigating the risks to which we are subject, based upon our size, scope, and complexity.

We have established corporate governance and enterprise risk management policies and procedures intended to identify, measure, monitor, report, and analyze the types of risk to which we are subject, including capital, market, liquidity, credit, operational, compliance, legal, strategic, technology and reputational risks.

Although we seek to manage our exposure to such risks, and employ a broad and diverse set of risk monitoring and mitigation techniques in the process, including internal controls and disclosure controls and procedures, those techniques are inherently limited because they cannot anticipate the existence or development of risks that are currently unknown or unanticipated.

Any system of control and any system to reduce risk exposure, however well designed and operated, can provide only reasonable, not absolute, assurance that the objectives of the system are met.

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Accordingly, we believe that our future success is dependent upon the development and, when needed, implementation of adequate succession plans.

Although both the Board of Directors and management monitor our succession planning for our senior management team, the loss of key personnel, or the inability to recruit and retain qualified personnel in the future, could have an adverse effect on our business, financial condition, or operating results.

We face strong competition in the financial services industry, and we could lose business or suffer margin declines as a result.

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Some of our major competitors include multinational financial service companies whose greater resources may afford them a marketplace advantage by enabling them to maintain numerous locations and mount extensive promotional and advertising campaigns.

Areas of competition include interest rates on loans and deposits, customer services, and range of price and quality of products and services, including new technology-driven products and services.

Areas of competition include interest rates on loans and deposits, customer service, and range of price and quality of products and services, including new technology-driven products and services.

We also face competition from products outside of the traditional finance system, such as stablecoins.

The enactment of the GENIUS Act in July 2025 has the potential to accelerate stablecoin adoption.

If consumers and businesses shift to stablecoins for payments and liquidity management, we may face reduced demand for our traditional products.

Ongoing or increased competition may put pressure on the pricing for our products and services or may cause us to lose market share, particularly with respect to traditional banking products such as loans and deposits.

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The risk of not being able to realize, or of subsequently incurring a recapture of, the tax credits and other tax benefits depends on various factors, some of which are outside of our control, including changes in the applicable tax code, as well as the continued economic viability of the project and project operator.

In addition, the Trump administration has announced an intent to repeal green energy tax credits, although the timing and extent of changes in tax credits remains uncertain.

The OBBBA accelerated the phase‑out of many renewable energy tax credits, including solar and wind-related investment and production tax credits, which could require us to shift our tax credit investment strategy in the future.

Any modification, repeal, expiration, delay or reinterpretation of applicable tax incentive regimes, or a project’s failure to satisfy evolving qualification or compliance standards, could reduce or eliminate anticipated tax benefits.

The possible inability to realize these tax credits and other tax benefits would have a negative impact on our financial results.

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Changes in regulation may require us to change our business practices, increase our costs, limit our ability to make investments and generate revenue, or otherwise adversely affect our business operations and/or competitiveness.

We are subject to extensive regulation under federal and state laws, as well as supervision and examination by the DFPI, FDIC, Federal Reserve, SEC, CFPB in the U.S.

We are subject to extensive regulation under federal and state laws, as well as supervision and examinations by the DFPI, FDIC, Federal Reserve, SEC, CFPB in the U.S.

and foreign regulators and other government authorities.

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Such changes could also subject us to additional costs and may limit the types of financial services and products we offer, and the investments we make.

For example, as we approach the $100 billion total asset threshold, we anticipate becoming subject to enhanced regulatory and supervisory requirements, which may include but are not limited to, increased capital and liquidity requirements, resolution planning obligations, stress testing, long-term debt requirements, and heightened supervisory scrutiny under existing or proposed federal banking regulations.

Compliance with these requirements will require substantial investment in systems, processes, and personnel.

The enhanced regulatory framework could also impact our ability to compete with financial institutions that are not subject to similar requirements.

Failure to adequately prepare for and address these challenges could materially and adversely affect our business, financial condition, and results of operation.

Further, as we increase in size additional regulatory requirements may become applicable to us.

Given that banks operate in an extensively regulated environment under federal and state law, good standing with our regulators is of fundamental importance to the continuation and growth of our business.

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government could further introduce new tax legislation or amend current tax laws in a manner that would adversely affect us.

In July 2025, the OBBBA was signed into law, introducing significant tax changes.

The OBBBA extends or makes permanent various tax provisions that were originally enacted in the 2017 Tax Cuts and Jobs Act and were set to expire at the end of 2025.

The OBBBA features modified versions of individual and business tax relief proposals, and other new tax relief measures.

In addition, it includes various revenue-raising measures, including certain changes to the Inflation Reduction Act and various limits on business and individual tax deductions, that are intended to offset part of the cost of the legislation.

We are currently evaluating the impact of the OBBBA on our business and future tax strategies.

Complying with the Bank Secrecy Act and other anti-money laundering and sanctions statutes and regulations can increase our compliance costs and risks.

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We are also required to comply with the U.S.

economic and trade sanctions administered by the OFAC regarding, among other things, the prohibition of transacting business with, and the need to freeze assets of, certain persons and organizations identified as a threat to the national security, foreign policy, or economy of the U.S.

A violation of any AML or OFAC-related law or regulation could subject us to significant civil and criminal penalties as well as regulatory enforcement actions, which may include restrictions on our ability to pay dividends and the necessity to obtain regulatory approvals to proceed with certain aspects of our business plan, including any acquisition plans.

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Any mishandling or misuse of personal information by us or a third party affiliated with us could expose us to litigation or regulatory fines, penalties or other sanctions.

Business — Supervision and Regulation — Privacy and Cybersecurity in this Form 10-K for more information about the regulations governing customer data to which we are subject.

We are subject to significant financial and reputational risk arising from lawsuits and other legal proceedings.

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Additionally, our certificate of incorporation, as amended, authorizes the Board of Directors to issue preferred stock which could be issued as a defensive measure in response to a takeover proposal.

Additionally, prior approval of the Federal Reserve and the DFPI is required for any person to acquire control of us, and control for these purposes may be presumed to exist when a person owns 10% or more of our outstanding common stock.

Federal Reserve approval is also required for a bank holding company to acquire more than 5% of our outstanding common stock.

Additionally, prior approval of the Federal Reserve and the DFPI is generally required for any person to acquire control of us, and control for these purposes may be presumed to exist when a person owns 10% or more of our outstanding common stock.

Federal Reserve approval is also generally required for a bank holding company to acquire more than 5% of our outstanding common stock.

These and other provisions could make it more difficult for a third party to acquire us, even if an acquisition might be in the best interest of the stockholders.

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Negative publicity regarding our business, employees or customers, with or without merit, may result in the loss of customers, investors and employees, costly litigation, a decline in revenues and increased governmental scrutiny.

Evolving expectations relating to environmental, social and governance considerations may expose us to additional costs, reputational harm, and other adverse effects on our business.

Regulators, investors, employees, customers and other stakeholders are increasingly focused on environmental, social and governance (“ESG”) practices relating to business, including climate change, human rights, health and safety, diversity, and labor conditions.

While some authorities and stakeholders have acted to promote ESG practices and disclosures, others have discouraged or prohibited consideration of ESG factors by investment advisors, and the Trump administration has announced an intent to repeal some ESG-related regulations.

Failure to comply with changing regulatory requirements, or to meet evolving investor or stakeholder expectations and standards, could result in legal or regulatory proceedings and negatively impact our business, reputation, results of operations, financial conditions, and stock price.

California has passed legislation that would impact the amount of required reporting of ESG practices and other state legislatures have proposed similar laws.

Such enacted and proposed government regulations could also cause new or more stringent forms of ESG oversight and expand mandatory and voluntary reporting, diligence, and disclosures.

The price of our common stock may be volatile or may decline.

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Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.

What changed 10-K

Item 1A. Risk Factors