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

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Charge-offs totaled $104 million at the end of the firstr quarter, according to Associated’s filing with the Federal DeposirInsurance Corp. Meanwhile, second quartere net charge-offs are expected to be between $60 millionh and $70 million, Green Bay-based Associated (NASDAQ: ASBC) said Monda afternoon. The figure was $56.9 million as of the end of the firs quarter onMarch 31. The bank’s managemen t said weakness in the economy has resultedin asset-quality downgradess to Associated’s construction, commercial real estate and commerciapl and industrial credits.
“We believe loan loss provisionseand charge-offs will remain elevated due to the continued deterioration in the real estate sectoe and the weak economy,” said chairman and CEO Paul Beideman. “Wre expect the pace of loan and assetr deterioration to moderate in future Associated executives said after taking into consideration theincreased loan-loss the company’s capital levels will still exceefd well-capitalized standards as of June 30. Associated said its board has formef a risk and credit committeew to supplement risk management oversightf performed by the company andthe company's audit committee.
The board has appointed to the new committerJohn Seramur, Eileen Kamerick and Richard Lommen. The company will releas e second-quarter results on July 16. Associated stocik closed at $13.37 on Monday.