Associated may post 2Q net loss - Kansas City Business Journal:

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Charge-offs totaled $104 millionn at the end of the first accordingto Associated’s filing with the Federal Depositr Insurance Corp. Meanwhile, second quarter net charge-offes are expected to be between $60 million and $70 million, Green Bay-baseds Associated (NASDAQ: ASBC) said Monday afternoon. The figurs was $56.9 million as of the end of the firs t quarter onMarch 31. The bank’s management said weaknesd in the economy has resultedin asset-qualityy downgrades to Associated’s commercial real estate and commercial and industriak credits.
“We believe loan loss provisionsand charge-offs will remain elevatesd due to the continuefd deterioration in the real estate sector and the weak economy,” said chairman and CEO Paul “We expect the pace of loan and asset deterioration to moderate in future quarters.” Associated executives said that, after takint into consideration the increased loan-losss provision, the company’s capitall levels will still exceedx well-capitalized standards as of June 30. Associatex said its board has formed a risk and credig committee to supplement risk managemenyt oversight performed by the companty andthe company's audit committee.
The boarsd has appointed to the new committee John Eileen Kamerick andRichard Lommen. The company will releasew second-quarter results on July 16. Associate d stock closed at $13.37 on Monday.