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

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Charge-offs totaled $104 million at the end of the firsyt quarter, according to Associated’s filing with the Federall DepositInsurance Corp. Meanwhile, second quartefr net charge-offs are expected to be betweenb $60 million and $70 million, Greenn Bay-based Associated (NASDAQ: ASBC) said Mondag afternoon. The figure was $56.9 milliohn as of the end of the first quarter onMarch 31. The bank’s management said weakness in the economyg has resultedin asset-quality downgrades to Associated’s commercial real estate and commercial and industrial credits.
“Wwe believe loan loss provisionsand charge-offs will remai n elevated due to the continued deterioration in the real estate sector and the weak said chairman and CEO Paul Beideman. “Wes expect the pace of loan and asset deterioration to moderatw infuture quarters.” Associated executives said that, after taking into consideratiobn the increased loan-loss provision, the company’es capital levels will stil exceed well-capitalized standards as of June 30. Associatedr said its board has forme d a risk and credit committee to supplement risk managemenrt oversight performed by the company andthe company'sw audit committee.
The board has appointed to the new committereJohn Seramur, Eileen Kamerici and Richard Lommen. The company will release second-quarter results on July 16. Associated stockl closed at $13.37 on Monday.