by Calculated Risk on 7/03/2008 04:43:00 PM

Regional bank Marshall & Ilsley expects a $900 million loss provision:

M&I expects to take a 2008 second quarter provision of up to $900 million ... This provision is expected to be approximately $485 million in excess of expected 2008 second quarter charge- offs of up to $415 million.
...
"The continuing deterioration in the housing market, particularly in Arizona, on Florida's west coast and in selected relationships in our correspondent business, makes this the prudent action to take at this time. While we cannot predict whether or not we have reached the bottom of the current housing cycle, we do believe the actions we have announced adequately address the current exposure embedded in our housing-related construction and development portfolio," said Mark F. Furlong, president and CEO, Marshall & Ilsley Corporation.
emphasis added

A regional bank with C&D (construction & development) loan problems. This will be a common theme.

Maybe they should have just stayed in the Midwest!