Associated Bank completes $84M construction loan for manufacturing facility in Altoona, Iowa

MINNEAPOLIS - February 2, 2026 - Associated Bank announced the closing of an $84,033,000 loan to Enclave for the development of a 622,788-square-foot build-to-suit heavy manufacturing facility in Altoona, Iowa, ten miles northeast of Des Moines. The loan was arranged and led by Associated Bank as administrative agent with syndicate lenders First National Bank of Omaha and Wintrust Financial.

The new manufacturing facility is being built for Robinson, Inc. to provide flexible production capacity for metal bending, large format cutting, metal forming, welding, fabricating and assembly, and electrical integration. As their first manufacturing facility outside of Wisconsin, Robinson will now have close to 1.4 million total square feet of manufacturing space in Wisconsin and Iowa to better serve their energy sector customers with customized production capabilities. The City of Altoona is investing $9 million for infrastructure improvements, and Robinson will invest $76 million for upgrades.

The plant is conveniently located just North of Interstate 80 at NE 56th Street and will provide over 100 new jobs when completed in early 2027.

As a unified real estate investment firm, Enclave combines the strength and versatility of in-house development, construction and management teams working as one. Valor Contracting, a strategic division of Enclave, is the general contractor for the project.

John Rent, a senior vice president with Associated Bank's Commercial Real Estate division, handled the loan arrangements and closing.

Associated Bank's Commercial Real Estate division is committed to providing commercial real estate developers/owners/operators with an array of financing solutions, in addition to products and services that meet their unique needs. The division has offices in Illinois, Indiana, Michigan, Minnesota, Missouri, Ohio, Texas and Wisconsin.

ABOUT ASSOCIATED BANC-CORP

Associated Banc-Corp (NYSE: ASB) has total assets of $45 billion and is the largest bank holding company based in Wisconsin. Headquartered in Green Bay, Wisconsin, Associated is a leading Midwest banking franchise, offering a full range of financial products and services from nearly 200 banking locations serving more than 100 communities throughout Wisconsin, Illinois, Minnesota, and Missouri. The Company also operates loan production offices in Indiana, Kansas, Michigan, New York, Ohio and Texas. Associated Bank, N.A. is an Equal Housing Lender, Equal Opportunity Lender and Member FDIC. More information about Associated Banc-Corp is available at https://www.associatedbank.com