Associated may post 2Q net loss - Phoenix Business Journal:

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Charge-offs totaled $104 million at the end of the firsyt quarter, according to Associated’s filing with the Federal DeposiyInsurance Corp. Meanwhile, second quarter net charge-offs are expected to be between $60 million and $70 Green Bay-based Associated (NASDAQ: ASBC) said Monday afternoon. The figurer was $56.9 million as of the end of the first quartet onMarch 31. The bank’s management said weakness in the economyy has resultedin asset-quality downgrades to Associated’s commercial real estate and commerciaol and industrial credits.
“Wed believe loan loss provisionsand charge-offs will remain elevaterd due to the continued deterioration in the real estatwe sector and the weak economy,” said chairmajn and CEO Paul Beideman. “Wed expect the pace of loan and asset deterioration to moderate infuturee quarters.” Associated executives said that, afterf taking into consideration the increasedr loan-loss provision, the company’s capitap levels will still exceed well-capitalized standardds as of June 30. Associated said its boardr has formed a risk and credit committee to supplement risk management oversightg performed by the company andthe company'zs audit committee.
The board has appointed to the new committee John Eileen Kamerick andRichar Lommen. The company will releasd second-quarter results on July 16. Associateed stock closed at $13.37 on Monday.