The Federal Deposit Insurance Corporation (FDIC) was appointed receiver for Metropolitan Capital Bank & Trust after it was closed by the Illinois Department of Financial and Professional Regulation, and entered into a purchase and assumption agreement with First Independence Bank to assume substantially all of the failed bank’s deposits. The bank’s sole office is due to reopen as a First Independence Bank branch on February 2, 2026, with depositors automatically becoming customers of First Independence Bank and remaining covered by FDIC deposit insurance. As of September 30, 2025, Metropolitan Capital Bank & Trust reported total assets of USD 261.1 million and total deposits of USD 212.1 million. First Independence Bank will also purchase approximately USD 251 million of the failed bank’s assets, while the FDIC will retain the remaining assets for later disposition; the FDIC’s preliminary estimate of the cost to the Deposit Insurance Fund is about USD 19.7 million and may change as retained assets are sold. The FDIC noted that Metropolitan Capital Bank & Trust is the first bank to fail in the nation in 2026.
Federal Deposit Insurance Corporation 2026-01-30
Federal Deposit Insurance Corporation takes Metropolitan Capital Bank & Trust into receivership and transfers deposits to First Independence Bank
The FDIC was appointed receiver for Metropolitan Capital Bank & Trust, closed by the Illinois Department of Financial and Professional Regulation, and entered an agreement with First Independence Bank to assume most deposits. The FDIC estimates a USD 19.7 million cost to the Deposit Insurance Fund, with Metropolitan Capital Bank & Trust being the first U.S. bank failure in 2026.