Metropolitan Capital Bank: First US Bank Failure of 2026

The Federal Deposit Insurance Corporation (FDIC) announced that Metropolitan Capital Bank & Trust, a single-branch lender based in Chicago, has become the first US bank to fail this year. Regulators closed the institution on Friday, appointing the FDIC as the receiver.

First Independence Bank will take over nearly all deposits of Metropolitan Capital Bank & Trust and acquire approximately $251 million in assets. The previous Metropolitan Capital branch is set to reopen on February 2 as a new First Independence Bank location.

Customers will maintain FDIC coverage automatically, allowing immediate access to funds via checks, debit cards, and ATMs, while continuing regular loan payments. The FDIC anticipates the failure will cost the Deposit Insurance Fund approximately $19.7 million.

This closure occurs after a period of minimal bank failures, with only two small institutions shutting down in 2025.