UPDATE 1-Associated Banc-Corp sees Q2 loss on provision

* Sees Q2 provision for loan losses $145-$160 mln

* Says provision may result in Q2 loss

* Sees Q2 net charge-offs of $60-$71 mln

June 29 (Reuters) - Associated Banc-Corp (ASBC.O) said it may post a second-quarter loss as it expects to record about $145 million to $160 million as provision for loan losses in the quarter.

The Green Bay, Wisconsin-based company said second-quarter net charge-offs are expected to be between $60 million and $70 million.

Analysts on average were expecting second-quarter earnings of 14 cents a share, excluding items, according to Reuters Estimates.

The company said after the increased provision for bad loans, capital levels will exceed all well capitalized standards at June 30.

"We believe loan loss provisions and charge-offs will remain elevated due to the continued deterioration in the real estate sector and the weak economy," Chief Executive Paul Beideman said in a statement.

Shares of the company closed at $13.37 Monday on Nasdaq. (Reporting by Sakthi Prasad in Bangalore; Editing by Ratul Ray Chaudhuri)