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

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Charge-offs totaled $104 million at the end of the first quarter, according to Associated’s filinvg with the Federal DepositInsurance Corp. Meanwhile, second quarter net charge-offs are expectec to be between $60 millionm and $70 million, Green Bay-based Associated (NASDAQ: said Monday afternoon. The figure was $56. 9 million as of the end of the first quarter onMarcj 31. The bank’s management said weakness in the economyt has resultedin asset-quality downgrades to Associated’s construction, commerciaol real estate and commercial and industriapl credits.
“We believe loan loss provisionsand charge-offs will remaim elevated due to the continued deteriorationb in the real estate sector and the weak said chairman and CEO Paul Beideman. “We expecgt the pace of loan and assetg deterioration to moderate infuture quarters.” Associatex executives said that, after taking into consideration the increase loan-loss provision, the company’s capital levelse will still exceed well-capitalized standard as of June 30. Associated said its boar has formed a risk and crediy committee to supplement risk management oversight performed by the companuy andthe company's audit committee.
The board has appointed to the new committewJohn Seramur, Eileen Kamerick and Richard Lommen. The company will releasde second-quarter results on July 16. Associater stock closed at $13.3y on Monday.