FDIC Reports First U.S. Bank Failure of 2026
By Josh Beckerman
The Federal Deposit Insurance Corp. said Metropolitan Capital Bank & Trust was closed by the Illinois Department of Financial and Professional Regulation, marking the first U.S. bank failure in 2026.
The single-branch Chicago bank will reopen on Monday as a branch of Detroit-based First Independence Bank. The FDIC entered a purchase and assumption agreement with First Independence Bank to assume substantially all deposits of Metropolitan.
The Illinois regulator said the transaction "ensures a seamless and immediate transition of services for customers and full protection of customer deposits."
Metropolitan had about $261.1 million in assets at the time of its closure. The state regulator said "Metropolitan Capital Bank & Trust was closed today due to unsafe and unsound conditions and an impaired capital position."
The FDIC preliminarily estimates that the failure will cost its Deposit Insurance Fund about $19.7 million.
Write to Josh Beckerman at josh.beckerman@wsj.com
(END) Dow Jones Newswires
January 30, 2026 19:09 ET (00:09 GMT)
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