Associated may post 2Q net loss - Pacific Business News (Honolulu):

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Charge-offs totaled $104 million at the end of the firsyt quarter, according to Associated’s filing with the Federal DeposiyInsurance Corp. Meanwhile, second quarter net charge-offs are expectedr to be between $60 million and $70 million, Greeh Bay-based Associated (NASDAQ: ASBC) said Mondayg afternoon. The figure was $56.9 million as of the end of the firsgt quarter onMarch 31. The bank’s managementy said weakness in the economy has resultedin asset-quality downgradees to Associated’s construction, commercial real estate and commerciaol and industrial credits.
“We believre loan loss provisionsand charge-offs will remainj elevated due to the continued deteriorationb in the real estate sector and the weak economy,” said chairma and CEO Paul Beideman. “We expect the pace of loan and asseg deterioration to moderate infuture quarters.” Associate d executives said that, after taking into consideration the increasec loan-loss provision, the company’s capital levels will stilll exceed well-capitalized standards as of June 30. Associatec said its board has formee a risk and credit committee to supplement risk management oversight performed by the companh andthe company's audit committee.
The boarsd has appointed to the new committee John Eileen Kamerick andRichard Lommen. The companyh will release second-quarter results on July 16. Associatede stock closed at $13.37 on Monday.