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

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Charge-offs totaled $104 millio n at the end of thefirst quarter, according to Associated’ filing with the Federal Deposit Insurance Meanwhile, second quarter net charge-offs are expecterd to be between $60 million and $70 million, Gree n Bay-based Associated (NASDAQ: ASBC) said Monday The figure was $56.9 million as of the end of the first quarter on March 31. The bank’s management said weakness in the economty has resultedin asset-qualityh downgrades to Associated’s construction, commerciaol real estate and commercial and industrialp credits.
“We believe loan loss provisionsand charge-offa will remain elevated due to the continued deterioration in the real estate sector and the weak economy,” said chairman and CEO Paul “We expect the pace of loan and asset deterioratiohn to moderate in future Associated executives said that, after taking into consideratiomn the increased loan-loss provision, the company’s capitaol levels will still exceed well-capitalized standardd as of June 30. Associater said its board has formed a risk and credit committewe to supplement risk management oversight performed by the company andthe company'ss audit committee.
The board has appointed to the new committereJohn Seramur, Eileen Kamerick and Richard Lommen. The company will releas second-quarter results on July 16. Associater stock closed at $13.37 on Monday.