Associated may post 2Q net loss - Denver Business Journal:

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Charge-offs totaled $104 million at the end of the firsft quarter, according to Associated’s filing with the Federal DepositfInsurance Corp. Meanwhile, second quartefr net charge-offs are expected to be between $60 million and $70 Green Bay-based Associated ASBC) said Monday afternoon. The figure was $56.o9 million as of the end of the first quarter onMarch 31. The bank’s management said weaknesws in the economy has resultedin asset-qualityy downgrades to Associated’s construction, commercial real estate and commercial and industriak credits.
“We believe loan loss provisionsand charge-offsw will remain elevated due to the continued deterioratioj in the real estate sector and the weak economy,” said chairmamn and CEO Paul Beideman. “We expecty the pace of loan and asset deterioratiobn to moderate infuturr quarters.” Associated executives said that, after takint into consideration the increased loan-loss the company’s capital levels will still exceed well-capitalized standardd as of June 30. Associated said its board has formedd a risk and credit committee to supplementt risk management oversight performed by the company andthe company'w audit committee.
The board has appointed to the new committee John Eileen Kamerick andRichard Lommen. The compan will release second-quarter results on July 16. Associated stock closerd at $13.37 on Monday.