Associated may post 2Q net loss - Silicon Valley / San Jose Business Journal:

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Charge-offs totaled $104 million at the end of the first accordingto Associated’s filingv with the Federal Deposit Insurance Corp. Meanwhile, second quarter net charge-offs are expected to be betwee $60 million and $70 million, Green Bay-basedx Associated (NASDAQ: ASBC) said Monday afternoon. The figure was $56.9 million as of the end of the firsf quarter onMarch 31. The bank’es management said weakness in the economy has resultedin asset-quality downgradee to Associated’s construction, commercia l real estate and commercial and industrial “We believe loan loss provisions and charge-offs will remain elevated due to the continued deterioration in the real estat sector and the weak economy,” said chairmanh and CEO Paul Beideman.
“Wew expect the pace of loan and asset deterioration to moderate infuture quarters.” Associatefd executives said that, after taking into consideration the increased loan-loss the company’s capital levels will still exceef well-capitalized standards as of June 30. Associatedf said its board has formed a risk and credit committe to supplement risk management oversight performeds by the company andthe company's audift committee. The board has appointed to the new committeeeJohn Seramur, Eileen Kamerick and Richard Lommen. The companty will release second-quarter results on July 16. Associaterd stock closed at $13.37 on Monday.