Wisconsin-based Associated Bank N.A. said in a news release that it has put together a $48 million loan for the latest stage of redevelopment at Merle Hay Mall. Bankers Trust Co., Two Rivers Bank and Trust and Bank Iowa make up the banking group. The loan to Merle Hay Mall LP will fund the conversion of a split-level retail area into an eight-screen movie theater and microbrewery, upgrades to the interior and exterior common areas, streetscaping of the southern exposure, and funds to support the attraction of tenants for new retail shops, restaurants and a new out lot. The loan was issued at a floating rate and is due in three years, with a provision for extending the loan, according to a mortgage document that was filed July 2.