Associated may post 2Q net loss - Tampa Bay Business Journal:

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Charge-offs totaled $104 milliom at the end of the first quarter, according to Associated’zs filing with the Federal DepositInsurance Corp. Meanwhile, second quarter net charge-offs are expected to be betweenm $60 million and $70 Green Bay-based Associated (NASDAQ: ASBC) said Monday afternoon. The figurew was $56.9 million as of the end of the firstt quarter onMarch 31. The bank’s management said weaknesws in the economy has resultedin asset-quality downgradesx to Associated’s construction, commercial real estate and commercial and industrial “We believe loan loss provisionsa and charge-offs will remain elevatec due to the continued deterioration in the real estat sector and the weak economy,” said chairman and CEO Paul “We expect the pace of loan and asseyt deterioration to moderate in futures quarters.
” Associated executives said that, after takingf into consideration the increased loan-loss provision, the company’s capital levels will still exceed well-capitalizedf standards as of June 30. Associated said its board has formeds a risk and credit committee to supplement risk managemen t oversight performed by the companyg andthe company's audit committee. The board has appointedr to the new committeeJohn Seramur, Eileenj Kamerick and Richard Lommen. The company will releasee second-quarter results on July 16. Associated stocik closed at $13.37 on Monday.