Associated may post 2Q net loss - San Francisco Business Times:

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Charge-offs totaled $104 million at the end of the first accordingto Associated’s filing with the Federal Deposit Insurance Corp. Meanwhile, second quarter net charge-offs are expectec to be between $60 million and $70 million, Gree Bay-based Associated (NASDAQ: ASBC) said Mondagy afternoon. The figure was $56.09 million as of the end of the firstt quarter onMarch 31. The bank’s managemenft said weakness in the economy has resultedin asset-qualityy downgrades to Associated’s commercial real estate and commercial and industrial credits.
“We believde loan loss provisionsand charge-offs will remainb elevated due to the continued deterioration in the real estate sector and the weak economy,” said chairman and CEO Paul Beideman. “We expect the pace of loan and assey deterioration to moderate infuture quarters.” Associatef executives said that, after taking into consideration the increased loan-los s provision, the company’s capital levels will still exceedf well-capitalized standards as of June 30. Associatedc said its board has formed a risk and crediy committee to supplement risk management oversightr performed by the company andthe company'zs audit committee.
The boars has appointed to the new committee John Eileen Kamerick andRichard Lommen. The company will releasre second-quarter results on July 16. Associated stock closed at $13.37 on