Metropolitan Capital Bank Fails First in 2026

Metropolitan Capital Bank Fails; First Independence Bank Assumes Deposits

• The Federal Deposit Insurance Corp. (FDIC) announced the closure of Chicago-based Metropolitan Capital Bank & Trust, marking the first US bank failure in 2026.
• First Independence Bank will take over nearly all deposits and acquire approximately $251 million in assets from the failed bank.
• The former branch of Metropolitan Capital will reopen as a First Independence Bank location on February 2.
• Customers maintain automatic FDIC coverage and can access their funds through checks, debit cards, and ATMs while continuing to make regular loan payments.
• The FDIC estimates that this bank failure will cost its Deposit Insurance Fund around $19.7 million.

This event signifies the first bank failure of the year, with First Independence Bank acquiring significant assets and deposits from Metropolitan Capital Bank & Trust. The FDIC anticipates a $19.7 million impact on its Deposit Insurance Fund due to this closure.