Chicago-based Metropolitan Capital Bank becomes first bank to fail in 2026
Chicago's Metropolitan Capital Bank & Trust failed, with the FDIC appointing itself receiver and First Independence Bank assuming deposits.Summary
Metropolitan Capital Bank & Trust, a single-branch lender based in Chicago, was shut down by regulators on Friday, making it the first US bank failure of 2026. The Federal Deposit Insurance Corp. (FDIC) was appointed as receiver and estimates the failure will cost its Deposit Insurance Fund approximately $19.7 million. First Independence Bank has agreed to assume substantially all deposits and acquire about $251 million in assets from the failed institution. Customers' funds remain automatically covered by FDIC insurance, and they can access their money immediately through existing services while continuing loan payments. The former Metropolitan Capital branch will reopen on February 2 as a First Independence Bank location.
(Source：Crypto Briefing)