Metropolitan Capital Bank Collapses—Here’s What Happened On February 2, 2026, Chicago-based Metropolitan Capital Bank & Trust became the first U.S. bank failure of the year, marking the second consecutive year a Chicago institution led the collapse parade. State regulators shut the bank down due to “unsafe and unsound conditions” and an impaired capital position. The FDIC stepped in, appointed as receiver, and quickly brokered a deal with First Independence Bank, based in Detroit, to absorb the majority of the failed institution’s deposits and assets. $261 million in assets $212 million in deposits Estimated $19.7 million cost to the FDIC's Deposit Insurance Fund Metropolitan had prided itself as a "Universal Bank" focused on small- to medium-sized businesses. Now, it joins a…
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