Metropolitan Capital Bank & Trust becomes first bank failure of 2026!
Metropolitan Capital Bank & Trust in Chicago is the first bank failure of 2026. On Friday, January 30th the Illinois Department of Financial and Professional Regulation (IDFPR) closed the single-branch $261 million asset bank. The FDIC was appointed as receiver and sold most of the assets and liabilities of the bank to Detroit based First Independence Bank. IDFPR stated that Metropolitan Capital was closed due to unsafe and unsound conditions and an impaired capital position. This failure is estimated to result in a $19.7 million cost to the FDIC Insurance Fund. This episode also looked at…
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