The article discusses concerns from various companies regarding potential economic impacts related to a forecasted recession. Hanmi Bank predicts a mild recession by 2025, citing several factors including tariffs, inflation, and deportations. Companies like Century Communities warn of labor shortages due to decreased immigration, which they suggest could hurt service quality. While banks recognize deportations as a factor in future performance, many are uncertain of the direct impact on their business. Others see mixed economic effects from stricter immigration policies, possibly benefiting certain sectors while posing risks to broader labor markets.
The holding companies for banks such as Bridgewater Bancshares and Heartland Bank and Trust Company mentioned deportations may affect their 'forward looking statements' but weren't clear on the outcomes.
Century Communities stated in its annual report that a labor shortage due to deportations could adversely impact their service standards, given the dependence on skilled immigrant labor.
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