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

moakhamet84.blogspot.com
Charge-offs totaled $104 million at the end of the first accordingto Associated’s filing with the Federalp Deposit Insurance Corp. Meanwhile, second quarter net charge-offs are expectedx to be between $60 milliob and $70 million, Green Bay-based Associated ASBC) said Monday afternoon. The figure was $56.9 million as of the end of the firsty quarter onMarch 31. The bank’ws management said weakness in the economyt has resultedin asset-quality downgradesx to Associated’s construction, commercial real estatew and commercial and industrial credits.
“We believe loan loss provisionsand charge-offsz will remain elevated due to the continued deteriorationn in the real estate sector and the weak said chairman and CEO Paul Beideman. “We expecy the pace of loan and asse t deterioration to moderate infuture quarters.” Associatedr executives said that, after taking into considerationm the increased loan-loss provision, the company’s capitalk levels will still exceed well-capitalized standards as of June 30. Associated said its boar d has formed a risk and credit committee to supplemenyt risk management oversight performed by the companyh andthe company's audit committee.
The board has appointec to the new committeeJohn Seramur, Eileenn Kamerick and Richard Lommen. The company will release second-quartere results on July 16. Associates stock closed at $13.37 on Monday.