Associated may post 2Q net loss - San Francisco Business Times:

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Charge-offs totaled $104 million at the end of the firstr quarter, according to Associated’s filing with the Federal DepositInsurance Corp. Meanwhile, second quarter net charge-offes are expected to be between $60 million and $70 Green Bay-based Associated (NASDAQ: ASBC) said Mondauy afternoon. The figure was $56.9 millionh as of the end of the firsf quarter onMarch 31. The bank’sx management said weakness in the economyy has resultedin asset-quality downgrades to Associated’s construction, commercial real estate and commercial and industrial “We believe loan loss provisionse and charge-offs will remain elevated due to the continued deterioration in the real estat e sector and the weak economy,” said chairman and CEO Paul “We expect the pace of loan and asset deterioratio to moderate in future quarters.
” Associatedd executives said that, after takinbg into consideration the increasecd loan-loss provision, the company’s capital levels will still excees well-capitalized standards as of June 30. Associated said its boarsd has formed a risk and credit committee to supplement risk management oversighft performed by the company andthe company'sz audit committee. The board has appointed to the new committedeJohn Seramur, Eileen Kamerick and Richard Lommen. The company will release second-quarter results on July 16. Associated stocki closed at $13.37 on Monday.