Market president Pat Deignan has left Bankers Trust of Cedar Rapids in the ongoing fallout from failed festival newbo evolve, after the bank is still owed most of a $2.25 million line of credit with no mechanism for recovery, reports the Cedar Rapids Gazette. Deignan had been with Bankers Trust for 16 years. The Cedar Rapids branch had initially offered a $1.5 million line of credit to festival organizers GO Cedar Rapids and later extended it to $2.25 million before the newbo evolve event, but GO Cedar Rapids declared a $2.3 million loss after the three-day festival, and closed without a bankruptcy filing because the organization had no assets. The organization still owed Bankers Trust $1.5 million, and local, regional and national vendors an additional $800,000 at time of closure. Bankers Trust, based in Des Moines, has named Todd Wishman the new market president in Cedar Rapids.