Metropolitan Capital Bank & Trust is the first bank to fail in the nation this year. Metropolitan Capital Bank & Trust was closed on January 30, 2026, by the Illinois Department of Financial and Professional Regulation, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver.
The FDIC entered into a purchase and assumption agreement with First Independence Bank to assume substantially all deposits of Metropolitan Capital Bank & Trust.
The banking crisis seems to have returned in the US. In 2023, there was a spate of banks shutting shop. Citizens Bank was the fifth bank to close down in the nation in 2023. The failed banks list shows Heartland Tri-State Bank, First Republic Bank, Signature Bank, Silicon Valley Bank and First–Citizens Bank as other banks shut down in 2023. The shutdown started on March 10, 2023 with First–Citizens Bank going down under.
Metropolitan Capital Bank
Metropolitan Capital Bank & Trust’s sole office will reopen as a branch of First Independence Bank during its normal business hours on Monday, February 2, 2026. Depositors of Metropolitan Capital Bank & Trust will automatically become depositors of First Independence Bank. The deposits assumed by First Independence Bank will continue to be insured by the FDIC, so there is no need for customers to change their banking relationship.
Customers of Metropolitan Capital Bank & Trust will have immediate access to their deposits. Over the weekend, they can access their deposits by writing checks or using ATM or debit cards. Checks drawn on the bank will continue to be processed. Loan customers should continue to make their payments as usual.
Metropolitan Capital Bank Customers
Customers with questions should contact the FDIC toll-free at 1-866-314-1744 or visit the FDIC’s website. This phone number will be operational this evening until 9:00 p.m., Central Time (CT); on Saturday from 9:00 a.m. to 6:00 p.m., CT; on Sunday from noon to 6:00 p.m., CT; Monday from 8:00 a.m. to 8:00 p.m., CT; and thereafter from 9:00 a.m. to 5:00 p.m., CT.
As of September 30, 2025, Metropolitan Capital Bank & Trust reported total assets of $261.1 million and total deposits of $212.1 million. First Independence Bank agreed to assume all deposits at the time of closing. It will also purchase approximately $251 million of the failed bank’s assets. The FDIC will retain the remaining assets for later disposition.
The FDIC preliminarily estimates that the failure will cost its Deposit Insurance Fund (DIF) about $19.7 million. The estimate will change over time as retained assets are sold.