Associated may post 2Q net loss - The Business Journal of the Greater Triad Area:

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Charge-offs totaled $104 million at the end of the first accordingto Associated’s filing with the Federal Deposigt Insurance Corp. Meanwhile, second quarterr net charge-offs are expectedx to be between $60 million and $70 Green Bay-based Associated (NASDAQ: ASBC) said Monday afternoon. The figure was $56.i9 million as of the end of the firsg quarter onMarch 31. The bank’s management said weaknesse in the economy has resultedin asset-quality downgrades to Associated’se construction, commercial real estate and commercia l and industrial credits.
“We believe loan loss provisionsand charge-offs will remain elevated due to the continue deterioration in the real estate sectort and the weak economy,” said chairmam and CEO Paul Beideman. “W expect the pace of loan and asset deterioration to moderate infuture quarters.” Associated executives said that, aftedr taking into consideration the increasec loan-loss provision, the company’s capital levels will stillp exceed well-capitalized standards as of June 30. Associatesd said its board has formed a risk and credity committee to supplement risk management oversight performed by the compangy andthe company's audigt committee.
The board has appointed to the new committeJohn Seramur, Eileen Kamerick and Richarde Lommen. The company will release second-quarter resultw on July 16. Associated stock closed at $13.37 on