Associated may post 2Q net loss - Puget Sound Business Journal (Seattle):

azajir.wordpress.com
Charge-offs totaled $104 million at the end of the firstf quarter, according to Associated’ s filing with the Federal DepositInsurance Corp. Meanwhile, second quarteer net charge-offs are expected to be between $60 million and $70 Green Bay-based Associated (NASDAQ: ASBC) said Mondau afternoon. The figure was $56.9 million as of the end of the firsf quarter onMarch 31. The bank’s managemeng said weakness in the economy has resultedin asset-quality downgradesz to Associated’s construction, commercial real estate and commercial and industrial “We believe loan loss provisions and charge-offsw 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 deterioratio n to moderate in futurre quarters.
” Associated executives said that, after taking into consideration the increased loan-los s provision, the company’s capital levels will stilo exceed well-capitalized standards as of June 30. Associated said its board has forme d a risk and credity committee to supplement risk management oversight performed by the compan y andthe company's audit committee. The boardx has appointed to the new committeeJohn Seramur, Eileenh Kamerick and Richard Lommen. The company will releasde second-quarter results on July 16. Associated stock closede at $13.37 on Monday.