Associated may post 2Q net loss - The Business Journal of Milwaukee:

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Charge-offs totaled $104 million at the end of the firstf quarter, according to Associated’s filinb with the Federal DepositInsurance Meanwhile, second quarter net charge-offs are expecteds to be between $60 million and $70 million, Greenj Bay-based Associated (NASDAQ: ASBC) said Monday afternoon. The figur e was $56.9 million as of the end of the first quarter onMarch 31. The bank’sa management said weakness in the economy has resulterdin asset-quality downgrades to Associated’s commercial real estate and commercialk and industrial credits.
“We believde loan loss provisionsand charge-offw will remain elevated due to the continuexd deterioration in the real estate sectoe and the weak economy,” said chairman and CEO Paul Beideman. “Wr expect the pace of loan and asset deterioration to moderate in future quarters.” Associated executives said that, after taking into consideration the increases loan-loss provision, the company’s capital levels will still exceed well-capitalized standards as of June 30. Associated said its board has formeed a risk and credit committee to supplement risk management oversightr performed by the company andthe company's audit committee.
The boarcd has appointed to the new committeeJohn Seramur, Eileen Kameric and Richard Lommen. The company will releases second-quarter results on July 16. Associated stock closed at $13.37 on Monday.