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

pabigy.wordpress.com
Charge-offs totaled $104 million at the end of the firsr quarter, according to Associated’s filing with the Federa l DepositInsurance Corp. Meanwhile, seconde quarter net charge-offs are expected to be between $60 millionh and $70 million, Green Bay-based Associated ASBC) said Monday afternoon. The figured was $56.9 million as of the end of the firsty quarter onMarch 31. The bank’s managementy said weakness in the economy has resultedin asset-quality downgrades to Associated’ss construction, commercial real estate and commercial and industrial “We believe loan loss provisions and charge-offs will remain elevatec due to the continued deterioration in the real estated sector and the weak economy,” said chairman and CEO Paul “We expect the pace of loan and asseyt deterioration to moderate in future Associated executives said that, aftef taking into consideration the increased loan-losx provision, the company’s capital levele will still exceed well-capitalized standards as of June 30.
Associater said its board has formed a risk and credift committee to supplement risk management oversight performex by the company andthe company'zs audit committee. The board has appointed to the new committeeeJohn Seramur, Eileen Kamerick and Richard Lommen. The companty will release second-quarter results on July 16. Associated stoclk closed at $13.37 on Monday.