Loans and Allowance for Credit Losses | Note 4 Loans and Allowance for Credit Losses Loans consisted of the following at the dates indicated (dollars in thousands): December 31, 2021 December 31, 2020 Total Percent of Total Total Percent of Total Residential and other consumer: 1-4 single family residential $ 6,338,225 26.7 % $ 4,922,836 20.6 % Government insured residential 2,023,221 8.5 % 1,419,074 5.9 % Other consumer loans 6,934 — % 6,312 0.1 % 8,368,380 35.2 % 6,348,222 26.6 % Commercial: Multi-family 1,154,738 4.9 % 1,639,201 6.9 % Non-owner occupied commercial real estate 4,381,610 18.4 % 4,963,273 20.8 % Construction and land 165,390 0.7 % 293,307 1.2 % Owner occupied commercial real estate 1,944,658 8.2 % 2,000,770 8.4 % Commercial and industrial 4,790,275 20.2 % 4,447,383 18.6 % PPP 248,505 1.0 % 781,811 3.3 % Pinnacle 919,641 3.9 % 1,107,386 4.6 % Bridge - franchise finance 342,124 1.4 % 549,733 2.3 % Bridge - equipment finance 357,599 1.5 % 475,548 2.0 % Mortgage warehouse lending 1,092,133 4.6 % 1,259,408 5.3 % 15,396,673 64.8 % 17,517,820 73.4 % Total loans 23,765,053 100.0 % 23,866,042 100.0 % Allowance for credit losses (126,457) (257,323) Loans, net $ 23,638,596 $ 23,608,719 Premiums, discounts and deferred fees and costs, excluding the non-credit related discount on PCD loans, totaled $67 million and $39 million at December 31, 2021 and 2020, respectively. The amortized cost basis of residential PCD loans and the related amount of non-credit discount was $65 million and $60 million, respectively at December 31, 2021 and $118 million and $115 million, respectively at December 31, 2020. The ACL related to PCD residential loans was $0.5 million and $2.8 million at December 31, 2021 and 2020, respectively. During the years ended December 31, 2021, 2020, and 2019, the Company purchased residential and other consumer loans totaling $4.8 billion, $3.2 billion and $2.2 billion, respectively. Purchases for the years ended December 31, 2021, 2020, and 2019 included $1.6 billion, $1.4 billion and $844 million, respectively, of government insured residential loans. At December 31, 2021 and 2020, the Company had pledged loans with a carrying value of approximately $10.6 billion and $9.6 billion, respectively, as security for FHLB advances and Federal Reserve discount window capacity. At December 31, 2021 and 2020, accrued interest receivable on loans, net of related ACL at December 31, 2020, totaled $98 million and $99 million, respectively, and is included in other assets in the accompanying consolidated balance sheets. The amount of interest income reversed on non-accrual loans was not material for the years ended December 31, 2021 and 2020. Allowance for credit losses Activity in the allowance for credit losses is summarized below. The balances for the year ended December 31, 2019 represent the allowance for loan and leases losses, estimated using an incurred loss methodology. The ACL at December 31, 2021 and 2020 was determined using the CECL methodology, utilizing a 2-year reasonable and supportable forecast period based on a single third-party provided economic scenario (in thousands): Years Ended December 31, 2021 2020 2019 Residential and Other Consumer Commercial Total Residential and Other Consumer Commercial Total Residential and Other Consumer Commercial Total Beginning balance $ 18,719 $ 238,604 $ 257,323 $ 11,154 $ 97,517 $ 108,671 $ 10,788 $ 99,143 $ 109,931 Impact of adoption of ASU 2016-13 N/A N/A N/A 8,098 19,207 27,305 N/A N/A N/A Balance after adoption of ASU 2016-13 N/A N/A N/A 19,252 116,724 135,976 N/A N/A N/A Provision (recovery) (9,241) (55,215) (64,456) (556) 182,895 182,339 154 8,750 8,904 Charge-offs (304) (70,946) (71,250) (31) (69,571) (69,602) — (17,541) (17,541) Recoveries 13 4,827 4,840 54 8,556 8,610 212 7,165 7,377 Ending balance $ 9,187 $ 117,270 $ 126,457 $ 18,719 $ 238,604 $ 257,323 $ 11,154 $ 97,517 $ 108,671 The decrease in the ACL from December 31, 2020 to December 31, 2021 resulted from charge-offs and the recovery of credit losses recorded during the year ended December 31, 2021. The most significant factor contributing to the recovery of provision for 2021 was improvements in economic conditions and the economic forecast. The increase in the ACL from January 1, 2020, the date of initial adoption of ASU 2016-13, to December 31, 2020 was reflective of the impact of the COVID-19 pandemic on current economic conditions, the economic forecast and on individual borrowers and portfolio sub-segments. The following table presents the components of the provision for (recovery of) credit losses for the periods indicated (in thousands): Years Ended December 31, 2021 2020 Amount related to funded portion of loans $ (64,456) $ 182,339 Amount related to off-balance sheet credit exposures (1,235) (5,572) Amount related to accrued interest receivable (1,064) 1,300 Amount related to AFS debt securities (364) 364 Total provision for (recovery of) credit losses $ (67,119) $ 178,431 Credit quality information The credit quality of the loan portfolio has been and may continue to be impacted by the COVID-19 crisis, its impact on the economy broadly and more specifically on the Company's individual borrowers. While economic conditions continue to improve, some level of uncertainty continues to exist about the full extent of this impact and the trajectory of recovery. The ultimate impact may not be fully reflected in some of the credit quality indicators disclosed below. Delinquency statistics may not be fully reflective of the impact of the COVID-19 crisis due to deferral and modification programs offered to affected borrowers. Credit quality of loans held for investment is continuously monitored by dedicated residential credit risk management and commercial portfolio management functions. The Company also has a workout and recovery department that monitors the credit quality of criticized and classified loans and an independent internal credit review function. Credit quality indicators for residential loans Management considers delinquency status to be the most meaningful indicator of the credit quality of residential and other consumer loans, other than government insured residential loans. Delinquency statistics are updated at least monthly. LTV and FICO scores are also important indicators of credit quality for 1-4 single family residential loans other than government insured loans. FICO scores are generally updated at least annually, and were most recently updated in the third quarter of 2021. LTVs are typically at origination since we do not routinely update residential appraisals. Substantially all of the government insured residential loans are government insured buyout loans, which the Company buys out of GNMA securitizations upon default. For these loans, traditional measures of credit quality are not particularly relevant considering the guaranteed nature of the loans and the underlying business model. Factors that impact risk inherent in the residential portfolio segment include national and regional economic conditions such as levels of unemployment and wages, as well as residential property values. 1-4 Single Family Residential credit exposure, excluding government insured residential loans, based on delinquency status: December 31, 2021 Amortized Cost By Origination Year 2021 2020 2019 2018 2017 Prior Total Current $ 2,884,761 $ 1,062,348 $ 395,453 $ 224,175 $ 342,414 $ 1,352,844 $ 6,261,995 30 - 59 Days Past Due 32,307 2,705 5,482 1,942 5,831 4,825 53,092 60 - 89 Days Past Due 605 — 1,750 1,988 — 1,307 5,650 90 Days or More Past Due 1,407 — 609 5,100 1,064 9,308 17,488 $ 2,919,080 $ 1,065,053 $ 403,294 $ 233,205 $ 349,309 $ 1,368,284 $ 6,338,225 December 31, 2020 Amortized Cost By Origination Year 2020 2019 2018 2017 2016 Prior Total Current $ 1,092,183 $ 645,993 $ 374,838 $ 611,377 $ 740,749 $ 1,392,192 $ 4,857,332 30 - 59 Days Past Due 17,826 5,741 2,564 927 2,913 18,880 48,851 60 - 89 Days Past Due 111 145 435 — 2,825 3,973 7,489 90 Days or More Past Due — 807 1,762 53 1,027 5,515 9,164 $ 1,110,120 $ 652,686 $ 379,599 $ 612,357 $ 747,514 $ 1,420,560 $ 4,922,836 1-4 Single Family Residential credit exposure, excluding government insured residential loans, based on LTV: December 31, 2021 Amortized Cost By Origination Year LTV 2021 2020 2019 2018 2017 Prior Total Less than 61% $ 1,222,510 $ 399,512 $ 89,078 $ 54,301 $ 111,540 $ 476,170 $ 2,353,111 61% - 70% 791,935 269,739 92,282 59,425 66,641 343,654 1,623,676 71% - 80% 899,400 395,726 212,649 111,276 145,413 518,817 2,283,281 More than 80% 5,235 76 9,285 8,203 25,715 29,643 78,157 $ 2,919,080 $ 1,065,053 $ 403,294 $ 233,205 $ 349,309 $ 1,368,284 $ 6,338,225 December 31, 2020 Amortized Cost By Origination Year LTV 2020 2019 2018 2017 2016 Prior Total Less than 61% $ 395,977 $ 143,273 $ 82,199 $ 174,223 $ 286,092 $ 487,487 $ 1,569,251 61% - 70 % 298,941 151,633 92,928 119,381 184,119 341,159 1,188,161 71% - 80% 413,003 344,998 181,852 271,605 258,931 565,781 2,036,170 More than 80% 2,199 12,782 22,620 47,148 18,372 26,133 129,254 $ 1,110,120 $ 652,686 $ 379,599 $ 612,357 $ 747,514 $ 1,420,560 $ 4,922,836 1-4 Single Family Residential credit exposure, excluding government insured residential loans, based on FICO score: December 31, 2021 Amortized Cost By Origination Year FICO 2021 2020 2019 2018 2017 Prior Total 760 or greater $ 2,230,259 $ 803,026 $ 245,942 $ 125,713 $ 254,750 $ 937,285 $ 4,596,975 720 - 759 562,763 194,068 91,276 53,576 54,080 219,561 1,175,324 719 or less 126,058 67,959 66,076 53,916 40,479 211,438 565,926 $ 2,919,080 $ 1,065,053 $ 403,294 $ 233,205 $ 349,309 $ 1,368,284 $ 6,338,225 December 31, 2020 Amortized Cost By Origination Year FICO 2020 2019 2018 2017 2016 Prior Total 760 or greater $ 843,199 $ 435,582 $ 225,292 $ 451,304 $ 549,119 $ 956,254 $ 3,460,750 720 - 759 223,831 128,875 84,602 102,859 130,592 256,703 927,462 719 or less 43,090 88,229 69,705 58,194 67,803 207,603 534,624 $ 1,110,120 $ 652,686 $ 379,599 $ 612,357 $ 747,514 $ 1,420,560 $ 4,922,836 Credit quality indicators for commercial loans Factors that impact risk inherent in commercial portfolio segments include but are not limited to levels of economic activity, health of the national and regional economy, industry trends, patterns of and trends in customer behavior that influence demand for our borrowers' products and services, and commercial real estate values. Internal risk ratings are considered the most meaningful indicator of credit quality for commercial loans. Internal risk ratings are generally indicative of the likelihood that a borrower will default, are a key factor influencing the level and nature of ongoing monitoring of loans and may impact the estimation of the ACL. Internal risk ratings are updated on a continuous basis. Generally, relationships with balances in excess of defined thresholds, ranging from $1 million to $3 million, are re-evaluated at least annually and more frequently if circumstances indicate that a change in risk rating may be warranted. Loans exhibiting potential credit weaknesses that deserve management’s close attention and that could result in deterioration of repayment prospects at some future date if not checked or corrected are categorized as special mention. Loans with well-defined credit weaknesses, including payment defaults, declining collateral values, frequent overdrafts, operating losses, increasing balance sheet leverage, inadequate cash flow from current operations, project cost overruns, unreasonable construction delays, past due real estate taxes or exhausted interest reserves, are assigned an internal risk rating of substandard. A loan with a weakness so severe that collection in full is highly questionable or improbable, but because of certain reasonably specific pending factors has not been charged off, will be assigned an internal risk rating of doubtful. December 31, 2021 Amortized Cost By Origination Year Revolving Loans 2021 2020 2019 2018 2017 Prior Total CRE Pass $ 869,852 $ 619,056 $ 1,283,401 $ 676,151 $ 455,965 $ 986,427 $ 119,308 $ 5,010,160 Special mention 985 — 29,573 — — 1,704 — 32,262 Substandard — 14,227 187,284 55,944 115,944 285,917 — 659,316 Total CRE $ 870,837 $ 633,283 $ 1,500,258 $ 732,095 $ 571,909 $ 1,274,048 $ 119,308 $ 5,701,738 C&I Pass $ 1,280,160 $ 666,437 $ 870,797 $ 406,145 $ 353,590 $ 669,308 $ 2,120,693 $ 6,367,130 Special mention 6,051 19,861 39,647 17,185 1,854 11,640 20,093 116,331 Substandard 365 22,106 167,496 59,349 51,117 122,663 49,119 472,215 Doubtful — — 900 — — — 26,862 27,762 Total C&I $ 1,286,576 $ 708,404 $ 1,078,840 $ 482,679 $ 406,561 $ 803,611 $ 2,216,767 $ 6,983,438 Pinnacle Pass $ 143,063 $ 113,785 $ 88,206 $ 36,761 $ 177,258 $ 360,568 $ — $ 919,641 Total Pinnacle $ 143,063 $ 113,785 $ 88,206 $ 36,761 $ 177,258 $ 360,568 $ — $ 919,641 Bridge - Equipment Finance Pass $ 73,190 $ 18,763 $ 108,990 $ 43,826 $ 23,684 $ 48,471 $ — $ 316,924 Substandard — — 12,875 4,775 23,025 — — 40,675 Total Bridge - Equipment Finance $ 73,190 $ 18,763 $ 121,865 $ 48,601 $ 46,709 $ 48,471 $ — $ 357,599 Bridge - Franchise Finance Pass $ 49,949 $ 51,057 $ 104,299 $ 10,199 $ 7,039 $ 5,838 $ — $ 228,381 Substandard — 7,351 39,588 30,134 8,660 8,018 — 93,751 Doubtful — — 7,718 12,274 — — — 19,992 Total Bridge - Franchise Finance $ 49,949 $ 58,408 $ 151,605 $ 52,607 $ 15,699 $ 13,856 $ — $ 342,124 Mortgage Warehouse Lending Pass $ — $ — $ — $ — $ — $ — $ 1,092,133 $ 1,092,133 Total Mortgage Warehouse Lending $ — $ — $ — $ — $ — $ — $ 1,092,133 $ 1,092,133 At December 31, 2021 and 2020, the balance of revolving loans converted to term loans was immaterial. The following tables summarize the Company's commercial credit exposure based on internal risk rating, in aggregate, at the dates indicated (in thousands): December 31, 2021 Multi-Family Non-Owner Occupied Commercial Real Estate Construction Owner Occupied Commercial Real Estate Commercial and Industrial PPP Pinnacle Bridge - Franchise Finance Bridge - Equipment Finance Mortgage Warehouse Lending Total Pass $ 970,337 $ 3,892,353 $ 147,470 $ 1,750,035 $ 4,368,590 $ 248,505 $ 919,641 $ 228,381 $ 316,924 $ 1,092,133 $ 13,934,369 Special mention — 26,088 6,174 14,010 102,321 — — — — — 148,593 Substandard - accruing 173,536 423,918 6,582 160,159 250,644 — — 80,864 40,675 — 1,136,378 Substandard non-accruing 10,865 39,251 5,164 20,454 40,958 — — 12,887 — — 129,579 Doubtful — — — — 27,762 — — 19,992 — — 47,754 $ 1,154,738 $ 4,381,610 $ 165,390 $ 1,944,658 $ 4,790,275 $ 248,505 $ 919,641 $ 342,124 $ 357,599 $ 1,092,133 $ 15,396,673 December 31, 2020 Multi-Family Non-Owner Occupied Commercial Real Estate Construction Owner Occupied Commercial Real Estate Commercial and Industrial PPP Pinnacle Bridge - Franchise Finance Bridge - Equipment Finance Mortgage Warehouse Lending Total Pass $ 1,360,245 $ 3,922,586 $ 264,979 $ 1,643,206 $ 3,937,270 $ 781,811 $ 1,107,386 $ 190,878 $ 364,256 $ 1,259,408 $ 14,832,025 Special mention 36,335 219,843 20,898 156,837 169,605 — — 71,593 36,405 — 711,516 Substandard -accruing 218,532 756,825 2,676 177,575 285,925 — — 242,234 74,887 — 1,758,654 Substandard non-accruing 24,089 64,019 4,754 23,152 54,411 — — 33,333 — — 203,758 Doubtful — — — — 172 — — 11,695 — — 11,867 $ 1,639,201 $ 4,963,273 $ 293,307 $ 2,000,770 $ 4,447,383 $ 781,811 $ 1,107,386 $ 549,733 $ 475,548 $ 1,259,408 $ 17,517,820 Past Due and Non-Accrual Loans: The following table presents an aging of loans at the dates indicated (in thousands): December 31, 2021 December 31, 2020 Current 30 - 59 60 - 89 90 Days or Total Current 30 - 59 60 - 89 90 Days or Total 1-4 single family residential $ 6,261,995 $ 53,092 $ 5,650 $ 17,488 $ 6,338,225 $ 4,857,332 $ 48,851 $ 7,489 $ 9,164 $ 4,922,836 Government insured residential 1,034,686 143,672 115,028 729,835 2,023,221 722,367 77,883 56,495 562,329 1,419,074 Other consumer loans 6,919 15 — — 6,934 6,022 37 22 231 6,312 Multi-family 1,135,363 6,017 11,220 2,138 1,154,738 1,602,990 17,842 — 18,369 1,639,201 Non-owner occupied commercial real estate 4,359,671 2,727 29 19,183 4,381,610 4,876,823 34,117 20,291 32,042 4,963,273 Construction and land 160,183 492 4,369 346 165,390 288,032 4,530 399 346 293,307 Owner occupied commercial real estate 1,930,932 — 1,402 12,324 1,944,658 1,971,475 10,756 3,203 15,336 2,000,770 Commercial and industrial 4,763,976 2,114 11,016 13,169 4,790,275 4,366,009 52,117 552 28,705 4,447,383 PPP 247,740 765 — — 248,505 781,811 — — — 781,811 Pinnacle 919,641 — — — 919,641 1,107,386 — — — 1,107,386 Bridge - franchise finance 331,397 — 6,735 3,992 342,124 498,831 16,423 8,664 25,815 549,733 Bridge - equipment finance 357,599 — — — 357,599 475,548 — — — 475,548 Mortgage warehouse lending 1,092,133 — — — 1,092,133 1,259,408 — — — 1,259,408 $ 22,602,235 $ 208,894 $ 155,449 $ 798,475 $ 23,765,053 $ 22,814,034 $ 262,556 $ 97,115 $ 692,337 $ 23,866,042 Included in the table above is the guaranteed portion of SBA loans past due by 90 days or more totaling $31.3 million and $40.3 million at December 31, 2021 and 2020, respectively. Loans contractually delinquent by 90 days or more and still accruing totaled $730 million and $562 million at December 31, 2021 and 2020, respectively, substantially all of which were government insured residential loans. These loans are government insured pool buyout loans, which the Company buys out of GNMA securitizations upon default. The following table presents information about loans on non-accrual status at the dates indicated (in thousands): December 31, 2021 December 31, 2020 Amortized Cost Amortized Cost With No Related Allowance Amortized Cost Amortized Cost With No Related Allowance Residential and other consumer $ 28,553 $ 1,684 $ 28,828 $ 1,755 Commercial: Multi-family 10,865 10,865 24,090 24,090 Non-owner occupied commercial real estate 39,251 20,929 64,017 32,843 Construction and land 5,164 4,369 4,754 4,408 Owner occupied commercial real estate 20,453 4,457 23,152 2,110 Commercial and industrial 68,720 10,083 54,584 9,235 Bridge - franchise finance 32,879 16,808 45,028 9,754 $ 205,885 $ 69,195 $ 244,453 $ 84,195 Included in the table above is the guaranteed portion of non-accrual SBA loans totaling $46.1 million and $51.3 million at December 31, 2021 and 2020, respectively. The amount of interest income recognized on non-accrual loans was insignificant for the years ended December 31, 2021, 2020 and 2019. The amount of additional interest income that would have been recognized on non-accrual loans had they performed in accordance with their contractual terms was approximately $8.0 million,$10.9 million, and $7.5 million for the years ended December 31, 2021, 2020, and 2019, respectively. Collateral dependent loans: The following table presents the amortized cost basis of collateral dependent loans at the dates indicated (in thousands): December 31, 2021 December 31, 2020 Amortized Cost Extent to Which Secured by Collateral Amortized Cost Extent to Which Secured by Collateral Residential and other consumer $ 2,317 $ 2,295 $ 2,528 $ 2,513 Commercial: Multi-family 10,865 10,865 24,090 24,090 Non-owner occupied commercial real estate 29,001 28,486 52,813 52,435 Construction and land 4,715 4,715 4,754 4,754 Owner occupied commercial real estate 15,198 15,155 14,814 14,777 Commercial and industrial 45,015 37,020 28,112 18,093 Bridge - franchise finance 26,055 18,740 28,986 12,832 Total commercial 130,849 114,981 153,569 126,981 $ 133,166 $ 117,276 $ 156,097 $ 129,494 Collateral for the multi-family, non-owner occupied commercial real estate and owner-occupied commercial real estate loan classes generally consists of commercial real estate. Collateral for construction and land loans is typically residential or commercial real estate. Collateral for commercial and industrial loans generally consists of equipment, accounts receivable, inventory and other business assets; owner-occupied commercial real estate loans may also be collateralized by these types of assets. Bridge franchise finance loans may be collateralized by franchise value or by equipment. Bridge equipment finance loans are secured by the financed equipment. Residential loans are collateralized by residential real estate. There have been no significant changes to the extent to which collateral secures collateral dependent loans during the year ended December 31, 2021. Foreclosure of residential real estate The recorded investment in residential loans in the process of foreclosure was $208 million, of which $202 million was government insured, at December 31, 2021 and $217 million, of which $209 million was government insured, at December 31, 2020. The carrying amount of foreclosed residential real estate included in other assets in the accompanying consolidated balance sheet was insignificant at December 31, 2021 and 2020. Troubled debt restructurings The following table summarizes loans that were modified in TDRs during the periods indicated, as well as loans modified during the twelve months preceding December 31, 2021, 2020 and 2019 that experienced payment defaults during those periods (dollars in thousands): Year Ended December 31, 2021 Loans Modified in TDRs TDRs Experiencing Payment Number of Amortized Cost Number of Amortized Cost Government insured residential 239 $ 45,143 84 $ 14,317 Non-owner occupied commercial real estate 1 2,767 — — 240 $ 47,910 84 $ 14,317 Year Ended December 31, 2020 Loans Modified in TDRs TDRs Experiencing Payment Number of Amortized Cost Number of Amortized Cost 1-4 single family residential 1 $ 201 — $ — Government insured residential 201 34,100 86 14,368 Non-owner occupied commercial real estate 1 4,122 1 4,122 Bridge - franchise finance 8 12,964 8 12,964 211 $ 51,387 95 $ 31,454 Year Ended December 31, 2019 Loans Modified in TDRs TDRs Experiencing Payment Number of Amortized Cost Number of Amortized Cost 1-4 single family residential 2 $ 557 — $ — Government insured residential 324 51,022 112 17,421 Non-owner occupied commercial real estate 1 11,496 — — Owner occupied commercial real estate 1 908 1 908 Commercial and industrial 7 20,239 2 8,673 Bridge - franchise finance 4 15,288 — — 339 $ 99,510 115 $ 27,002 Loan Concentrations The following table presents the five states with the largest geographic concentrations of 1-4 single family residential loans, excluding government insured residential loans, at the dates indicated (dollars in thousands): December 31, 2021 December 31, 2020 Total Percent of Total Total Percent of Total California $ 2,056,100 32.4 % $ 1,541,779 31.3 % New York 1,293,825 20.4 % 1,084,143 22.0 % Florida 494,043 7.8 % 518,877 10.5 % Illinois 306,388 4.8 % 131,053 2.7 % Virginia 280,898 4.4 % 196,641 4.0 % Others 1,906,971 30.2 % 1,450,343 29.5 % $ 6,338,225 100.0 % $ 4,922,836 100.0 % The following table presents the largest geographic concentrations of commercial loans at the dates indicated. Commercial real estate loans are based on the location in which they have collateralized property, while commercial loans are based primarily on the location of the borrowers' businesses (dollars in thousands): December 31, 2021 December 31, 2020 Commercial Real Estate Percent of Total Commercial Percent of Total Commercial Real Estate Percent of Total Commercial Percent of Total Florida $ 3,309,614 58.0 % $ 3,588,254 37.0 % $ 3,659,310 53.1 % $ 4,044,377 38.1 % New York Tri-state 1,873,055 32.9 % 2,249,916 23.2 % 2,652,980 38.5 % 2,570,974 24.2 % Other 519,069 9.1 % 3,856,765 39.8 % 583,491 8.4 % 4,006,688 37.7 % $ 5,701,738 100.0 % $ 9,694,935 100.0 % $ 6,895,781 100.0 % $ 10,622,039 100.0 % |