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Metropolitan Capital

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uuid0008hzu

Namestring
Metropolitan Capital
Legal namestring
Metropolitan Capital Bank & Trust
Websiteurl
metcapbank.com
Company typeenum
Private
Founded yearint
2005
Descriptiontext

Metropolitan Capital Bank & Trust was a privately held, single-branch community bank headquartered at 9 E Ontario St in Chicago, Illinois. Founded in 2005 and operating with 51–100 employees, the bank targeted entrepreneurs and the small- to medium-sized businesses they owned, offering commercial real estate lending, SBA loans, deposit accounts, and wealth management and trust services for high-net-worth individuals. Its product suite comprised four core offerings: an online banking platform with iOS and Android mobile apps, a wealth management and trust services line, small-to-medium business banking including commercial real estate and SBA lending, and a native mobile banking application.

The bank's revenue model combined net interest income from its loan portfolio and deposit base with fee income from wealth management, trust, and treasury services. As of September 30, 2025, the institution reported $261.1 million in total assets and $212.1 million in total deposits, placing it among the smallest tier of state-chartered banks. Distribution was entirely domestic, concentrated in the Midwest, and delivered through one physical branch plus digital channels.

The bank's existence as an independent operating entity ended on January 30, 2026, when the Illinois Department of Financial and Professional Regulation closed it and the FDIC was appointed receiver. The closure stemmed from a troubled $4.5 million commercial real estate loan originated in 2014 to entities controlled by Chicago investor Zvi Feiner, which was junior to a $146 million defaulted HUD-insured mortgage; an Illinois appellate court ruled in 2020 that the bank failed to conduct basic due diligence on the loan. A 2019 FDIC consent order had previously cited unsafe and unsound conditions, impaired capital, and substandard lending practices. First Independence Bank of Detroit assumed all deposits and approximately $251 million of assets, reopening the former Chicago branch under its own brand on February 2, 2026. The FDIC estimated the failure would cost the Deposit Insurance Fund approximately $19.7 million. Metropolitan Capital was the first FDIC-insured bank failure of 2026.

Short descriptiontext

Metropolitan Capital Bank & Trust was a Chicago-based, single-branch community bank serving small- to medium-sized businesses with commercial lending, wealth management, and digital banking. Operations ceased on January 30, 2026, when First Independence Bank assumed all deposits and assets.

Operating statusenum
Closed
Ownership categoryenum
Headcount rangeband
51–100
akta.pro rankint
HeadquartersChicago, United States
HQ citystring
Chicago
HQ countrystring
United States
HQ regionstring
North America
Markets served

Serves global market

Offices1 record

Each record includes

City, Country, Type, Description, Source

Keyword5 values
community banking services, commercial real estate lending, small business banking, wealth management services, mobile banking platform
Industry3 codes
1SME Deposits & Business Accounts (Operating, Savings, CDs)
CodeFSABABACPrimaryYes
2Savings Banks (Public/State-Owned)
CodeFSABAKAKPrimaryNo
3Mass-Market Consumer Deposit Banking (Checking/Savings)
CodeFSABAAAAPrimaryNo
NAICS code4 codes
  • Commercial Banking522110
  • Commercial Banking52211
  • Depository Credit Intermediation5221
  • Savings Institutions and Other Depository Credit Intermediation52218
SIC code2 codes
  • State Commercial Banks6022
  • Savings Institutions, Not Federally Chartered6036
Product category
Community Banking
Social media profiles3 records
Marketing channels1 record

Each record includes

Title, Type, Stage, Description, Source

Distribution channels2 records

Each record includes

Title, Type, Scope, Target buyer, Description, Source

Cost components6 values
Personnel, Operations, Infrastructure, Technology or R&D, Marketing or Sales, Others
GTM typeB2B and B2C
B2B and B2C
Offering typeServices
Services
Core offering1 text field

Metropolitan Capital Bank & Trust operated as a single-branch Chicago community bank delivering commercial and consumer deposit accounts, commercial real estate and SBA lending, online and mobile banking, and wealth management and trust services. Its deposit gathering, lending, and wealth management activities were the primary revenue-generating lines, with the bank targeting entrepreneurs and the small-to-medium businesses they own and operate in the Chicago market.

Differentiator
Functional benefit
Problem solved
Product overview1 text field

Metropolitan Capital Bank & Trust was a Chicago-based community bank offering a unified suite of banking services primarily focused on small-to-medium sized business clients. The bank's product portfolio centered on four core offerings: Online Banking (digital platform for account management), Wealth Management & Trust Services (investment and estate planning), Small-to-Medium Business Banking (commercial lending including commercial real estate and SBA loans), and a Mobile Banking App (iOS and Android native application). Following its closure on January 30, 2026, all deposits and assets were assumed by First Independence Bank.

Product and service4 records
1Online Banking
CategoryDigital banking
Description

Web-based digital banking platform enabling customers to access accounts, transfer funds, pay bills, and manage finances through online interfaces. Targeted at retail and small business deposit customers of Metropolitan Capital Bank & Trust.

2Metropolitan Capital Bank Mobile App
CategoryMobile banking
Description

Native mobile banking application available on iOS and Android platforms enabling secure account access, transactions, and banking services on mobile devices.

3Wealth Management & Trust Services
CategoryWealth management and trust
Description

Investment management and trust services for high-net-worth individuals and business owners, including portfolio management and estate planning, with integrated access to the Black Diamond Portal for consolidated reporting.

4Small-to-Medium Business Banking
CategoryCommercial banking
Description

Commercial banking services focused on small-to-medium sized businesses, including commercial real estate lending and SBA loans.

Scale indicator6 records

Each record includes

Type, Value, Description, Source

Partnership1 partner
Strategic tierCoreTypeOthersAnnounced on2026-01-30
Description

Following the FDIC-assisted transaction on January 30, 2026, First Independence Bank of Detroit, MI assumed substantially all deposits and acquired approximately $251 million of Metropolitan Capital Bank & Trust's assets. The Chicago branch was reopened as a First Independence Bank location on February 2, 2026, offering both in-person and digital banking services. The FDIC was appointed as receiver for the failed bank.

Recent move5 records

Each record includes

Date, Type, Title, Description, Source

Peers10 records
TypeDirect peer
Description

Illinois-chartered community bank headquartered in Oak Brook, IL, providing SMB and commercial banking services across the Chicago metro. Comparable as a state-chartered Illinois community bank with overlapping SMB and CRE lending focus.

TypeDirect peer
Description

Chicago-based community bank focused on small to mid-sized businesses. Closely comparable in target customer segment (SMBs and entrepreneurs), product offering, and Chicago market focus.

TypeDirect peer
Description

Community bank within the Wintrust Financial network serving Chicago's northern suburbs. Comparable as a single-market community bank offering SMB banking, deposits, and wealth management — closely matching Metropolitan Capital's product mix.

TypeDirect peer
Description

Chicago-based community bank formed from the FDIC-assisted acquisition of Ridgestone Bank in 2015. Directly comparable as a Chicago SMB-focused community bank with a similar deposit and small-business lending franchise; Byline's origin via FDIC-assisted deal closely mirrors Metropolitan Capital's outcome.

TypeDirect peer
Description

Detroit-based community bank that assumed all deposits and ~$251M of Metropolitan Capital's assets in the January 30, 2026 FDIC-assisted transaction. Comparable as a small, privately held community bank with a similar deposit-taking and SMB-lending profile, and is now the direct successor franchise in Chicago.

TypeDirect peer
Description

Chicago-area community bank serving SMBs and entrepreneurs with commercial banking and lending products. Comparable in size, geography, and target customer segment (small businesses and owner-operators) to Metropolitan Capital.

TypeBroad incumbent
Description

Rosemont, IL-based bank holding company operating a network of community banks across Chicago and the Midwest. Comparable as a Chicago-area SMB-focused community banking platform, though at significantly larger scale and broader geographic footprint.

8Oak Brook Bank
TypeDirect peer
Description

Illinois-chartered community bank serving the western Chicago suburbs with SMB and commercial banking services. Comparable as a similarly-sized Illinois community bank with overlapping deposit and CRE lending focus.

TypeRegional player
Description

Chicago-based community bank with a comparable small-business and commercial lending profile. Relevant as a similarly-sized Chicago community bank competitor in the same geographic market.

TypeDirect peer
Description

Chicago South Side community bank (also part of Wintrust) offering SMB and consumer banking. Comparable in product scope (deposits, lending, wealth services) and community-bank positioning to Metropolitan Capital.

Market position
Weaknesses4 records

Each record includes

Headline, Details, Source

Competitive moat2 records

Each record includes

Type, Details

Key risks6 records

Each record includes

Headline, Details, Source

Key highlights5 records

Each record includes

Headline, Details, Source

Customer concentration

Classification, Details

Segment1 record

Each record includes

Title, Type, Primary, Description, Pain point addressed, Use case, Source

Ideal customer profile2 records

Each record includes

Profile, Firmographic size, Sales motion, Sales cycle length, Buying structure, Purchase trigger, Buyer persona, Geography, Industry vertical, Primary use case, Description, Pain points, Evidence proof points, Target buyer

Technology focused
No
API detail
Has APIbool
No

Docs URL, Description

AI maturity
App detail

Has app

Core technology
Revenue estimate
Valuation estimate
Number of profiles
No data
No data
Funding overview

Funding stage, Last funding date, Total funding USD

Funding rounds1 record

Each record includes

Round, Amount USD, Date, Pre money valuation, Total investors, Investors, News

Investors

Each record includes

Name, Type, Date of entry, Rounds participated, Website

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Each record includes

Name, Acquisition type, Announced date, Completed date, Status, Website, News

Investment4 records

Each record includes

Name, Round, Announced date, Lead investor, Website, News

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Metropolitan Capital

Community Bankingmetcapbank.com

Metropolitan Capital Bank & Trust was a Chicago-based, single-branch community bank serving small- to medium-sized businesses with commercial lending, wealth management, and digital banking. Operations ceased on January 30, 2026, when First Independence Bank assumed all deposits and assets.

What Metropolitan Capital does

Metropolitan Capital Bank & Trust was a privately held, single-branch community bank headquartered at 9 E Ontario St in Chicago, Illinois. Founded in 2005 and operating with 51–100 employees, the bank targeted entrepreneurs and the small- to medium-sized businesses they owned, offering commercial real estate lending, SBA loans, deposit accounts, and wealth management and trust services for high-net-worth individuals. Its product suite comprised four core offerings: an online banking platform with iOS and Android mobile apps, a wealth management and trust services line, small-to-medium business banking including commercial real estate and SBA lending, and a native mobile banking application.

The bank's revenue model combined net interest income from its loan portfolio and deposit base with fee income from wealth management, trust, and treasury services. As of September 30, 2025, the institution reported $261.1 million in total assets and $212.1 million in total deposits, placing it among the smallest tier of state-chartered banks. Distribution was entirely domestic, concentrated in the Midwest, and delivered through one physical branch plus digital channels.

The bank's existence as an independent operating entity ended on January 30, 2026, when the Illinois Department of Financial and Professional Regulation closed it and the FDIC was appointed receiver. The closure stemmed from a troubled $4.5 million commercial real estate loan originated in 2014 to entities controlled by Chicago investor Zvi Feiner, which was junior to a $146 million defaulted HUD-insured mortgage; an Illinois appellate court ruled in 2020 that the bank failed to conduct basic due diligence on the loan. A 2019 FDIC consent order had previously cited unsafe and unsound conditions, impaired capital, and substandard lending practices. First Independence Bank of Detroit assumed all deposits and approximately $251 million of assets, reopening the former Chicago branch under its own brand on February 2, 2026. The FDIC estimated the failure would cost the Deposit Insurance Fund approximately $19.7 million. Metropolitan Capital was the first FDIC-insured bank failure of 2026.

Metropolitan Capital firmographics

Firmographics
Name
Metropolitan Capital
Legal name
Metropolitan Capital Bank & Trust
Website
https://metcapbank.com
Company type
Private
Founded year
2005
Operating status
Closed
Headcount range
51–100 employees
Short description
Metropolitan Capital Bank & Trust was a Chicago-based, single-branch community bank serving small- to medium-sized businesses with commercial lending, wealth management, and digital banking. Operations ceased on January 30, 2026, when First Independence Bank assumed all deposits and assets.
Ownership category
akta.pro rank

Metropolitan Capital industry classification

Industry
Product category
Community Banking
NAICS
Commercial Banking (522110), Commercial Banking (52211), Depository Credit Intermediation (5221), Savings Institutions and Other Depository Credit Intermediation (52218)
SIC
State Commercial Banks (6022), Savings Institutions, Not Federally Chartered (6036)
akta.pro primary industry
SME Deposits & Business Accounts (Operating, Savings, CDs) (FSABABAC)
akta.pro secondary industries
Savings Banks (Public/State-Owned) (FSABAKAK), Mass-Market Consumer Deposit Banking (Checking/Savings) (FSABAAAA)

Keywords

  • Community banking services
  • Commercial real estate lending
  • Small business banking
  • Wealth management services
  • Mobile banking platform

Where Metropolitan Capital is headquartered

Location

Headquarters

HQ city
Chicago
HQ country
United States
HQ region
North America

Offices1 record

Markets served

Metropolitan Capital business model

Business model
GTM type
B2B and B2C
Offering type
Services
Cost components
Personnel, Operations, Infrastructure, Technology or R&D, Marketing or Sales, Others

Distribution channels2 records

Marketing channels1 record

Metropolitan Capital product offering

Product offering

Core offering

Metropolitan Capital Bank & Trust operated as a single-branch Chicago community bank delivering commercial and consumer deposit accounts, commercial real estate and SBA lending, online and mobile banking, and wealth management and trust services. Its deposit gathering, lending, and wealth management activities were the primary revenue-generating lines, with the bank targeting entrepreneurs and the small-to-medium businesses they own and operate in the Chicago market.

Product overview

Metropolitan Capital Bank & Trust was a Chicago-based community bank offering a unified suite of banking services primarily focused on small-to-medium sized business clients. The bank's product portfolio centered on four core offerings: Online Banking (digital platform for account management), Wealth Management & Trust Services (investment and estate planning), Small-to-Medium Business Banking (commercial lending including commercial real estate and SBA loans), and a Mobile Banking App (iOS and Android native application). Following its closure on January 30, 2026, all deposits and assets were assumed by First Independence Bank.

Differentiator

Problem solved

Functional benefit

Products and services

  • Online Banking Web-based digital banking platform enabling customers to access accounts, transfer funds, pay bills, and manage finances through online interfaces. Targeted at retail and small business deposit customers of Metropolitan Capital Bank & Trust.
  • Metropolitan Capital Bank Mobile App Native mobile banking application available on iOS and Android platforms enabling secure account access, transactions, and banking services on mobile devices.
  • Wealth Management & Trust Services Investment management and trust services for high-net-worth individuals and business owners, including portfolio management and estate planning, with integrated access to the Black Diamond Portal for consolidated reporting.
  • Small-to-Medium Business Banking Commercial banking services focused on small-to-medium sized businesses, including commercial real estate lending and SBA loans.

Companies that use Metropolitan Capital

Customer profile

Segments1 record

Ideal customer profiles2 records

Metropolitan Capital technology and API

Technology

Technology focussed No

API detail

Has API
No
API docs
API detail

Core technology

AI maturity

App detail

Metropolitan Capital partnerships and signals

Strategic signal

Partnerships

One partnership is on record.

  • First Independence BankcoreOthers · 30 January 2026Following the FDIC-assisted transaction on January 30, 2026, First Independence Bank of Detroit, MI assumed substantially all deposits and acquired approximately $251 million of Metropolitan Capital Bank & Trust's assets. The Chicago branch was reopened as a First Independence Bank location on February 2, 2026, offering both in-person and digital banking services. The FDIC was appointed as receiver for the failed bank.

Scale indicators6 records

Recent moves5 records

Metropolitan Capital competitors and assessment

Company assessment

Direct peers

  • Inland Bank and Trust: Illinois-chartered community bank headquartered in Oak Brook, IL, providing SMB and commercial banking services across the Chicago metro. Comparable as a state-chartered Illinois community bank with overlapping SMB and CRE lending focus.
  • First Bank Chicago: Chicago-based community bank focused on small to mid-sized businesses. Closely comparable in target customer segment (SMBs and entrepreneurs), product offering, and Chicago market focus.
  • Libertyville Bank & Trust: Community bank within the Wintrust Financial network serving Chicago's northern suburbs. Comparable as a single-market community bank offering SMB banking, deposits, and wealth management — closely matching Metropolitan Capital's product mix.
  • Byline Bank: Chicago-based community bank formed from the FDIC-assisted acquisition of Ridgestone Bank in 2015. Directly comparable as a Chicago SMB-focused community bank with a similar deposit and small-business lending franchise; Byline's origin via FDIC-assisted deal closely mirrors Metropolitan Capital's outcome.
  • First Independence Bank: Detroit-based community bank that assumed all deposits and ~$251M of Metropolitan Capital's assets in the January 30, 2026 FDIC-assisted transaction. Comparable as a small, privately held community bank with a similar deposit-taking and SMB-lending profile, and is now the direct successor franchise in Chicago.
  • Bridgeview Bank Group: Chicago-area community bank serving SMBs and entrepreneurs with commercial banking and lending products. Comparable in size, geography, and target customer segment (small businesses and owner-operators) to Metropolitan Capital.
  • Oak Brook Bank: Illinois-chartered community bank serving the western Chicago suburbs with SMB and commercial banking services. Comparable as a similarly-sized Illinois community bank with overlapping deposit and CRE lending focus.
  • Beverly Bank & Trust Company: Chicago South Side community bank (also part of Wintrust) offering SMB and consumer banking. Comparable in product scope (deposits, lending, wealth services) and community-bank positioning to Metropolitan Capital.

Broad incumbents

  • Wintrust Financial Corporation: Rosemont, IL-based bank holding company operating a network of community banks across Chicago and the Midwest. Comparable as a Chicago-area SMB-focused community banking platform, though at significantly larger scale and broader geographic footprint.

Regional players

  • Pacific Global Bank: Chicago-based community bank with a comparable small-business and commercial lending profile. Relevant as a similarly-sized Chicago community bank competitor in the same geographic market.

Market position

Weaknesses4 records

Competitive moat2 records

Key risks6 records

Key highlights5 records

Customer concentration

Metropolitan Capital social profiles

Digital presence

Metropolitan Capital financial estimates

Financial estimate

Revenue estimate

Valuation estimate

Metropolitan Capital leadership team

Management profile

Number of profiles

Metropolitan Capital funding detail

Funding detail

Funding overview

Funding rounds1 record

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

Metropolitan Capital M&A and investment

M&A and investment

M&A

Investments4 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Metropolitan Capital

What does Metropolitan Capital do?

Metropolitan Capital Bank & Trust operated as a single-branch Chicago community bank delivering commercial and consumer deposit accounts, commercial real estate and SBA lending, online and mobile banking, and wealth management and trust services. Its deposit gathering, lending, and wealth management activities were the primary revenue-generating lines, with the bank targeting entrepreneurs and the small-to-medium businesses they own and operate in the Chicago market.

Is Metropolitan Capital a public or private company?

Metropolitan Capital is a private company. It is classified as unknown and is currently closed.

When was Metropolitan Capital founded?

Metropolitan Capital was founded in 2005. It employs 51 to 100 people.

Where is Metropolitan Capital based?

Metropolitan Capital is headquartered in Chicago, United States, in the North America region.

Who are Metropolitan Capital's main competitors?

Direct peers on record are Inland Bank and Trust, First Bank Chicago, Libertyville Bank & Trust, Byline Bank, First Independence Bank, Bridgeview Bank Group, Oak Brook Bank and Beverly Bank & Trust Company. Wintrust Financial Corporation is listed as a broad incumbent. Pacific Global Bank is listed as a regional player.

Does Metropolitan Capital have an API?

No public API is recorded for Metropolitan Capital.

What industry is Metropolitan Capital in?

Metropolitan Capital's product category is Community Banking. Its primary akta.pro industry code is FSABABAC, SME Deposits & Business Accounts (Operating, Savings, CDs), with a secondary code of FSABAKAK, Savings Banks (Public/State-Owned). Its NAICS code is 522110 and its SIC code is 6022.

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Live signals
American BankerSmall bank failure drip persists as FDIC fast tracks salesTwo U.S. banks have failed in 2026—Metropolitan Capital Bank & Trust in January and Community Bank & Trust – West Georgia in early May—both smaller lenders that collapsed due to firm-specific issues. Community Bank & Trust held $288 million in assets and $268 million in deposits, with approximately $27 million exceeding the FDIC's $250,000 insurance limit, while regulators had flagged the Georgia lender's risky growth strategy and oversight deficiencies earlier in the year. The FDIC's move to sell failed banks on the same day as failure announcements, under Chair Travis Hill's direction, marks a strategic shift aimed at preventing the buyer difficulties and reputational damage that followed the 2023 Silicon Valley Bank failure.American BankerBanks have a unique business model; they can still fail at itGeorgia banking regulators and the FDIC closed three-branch Community Bank & Trust – West Georgia, based in LaGrange, on Friday, marking the second bank failure of 2025 after Chicago-based Metropolitan Capital Bank & Trust failed in January. The bank had approximately $288 million in assets and $268 million in deposits, with problems stemming from a growth strategy involving SBA and Agriculture Department loans through nonbank partners, compounded by inadequate board oversight, capital, and compliance. The article contextualizes the 2025-2026 failure rate against historical data, noting that 25 banks failed during the 2008 financial crisis and 9,000 banks failed during the early years of the Great Depression.Chicago Sun-TimesBefore regulators closed North Loop bank, millions in loans to Chicago rabbi, developer went uncollectedMetropolitan Capital Bank & Trust was closed by regulators in January after unsafe conditions and impaired capital. The bank had tried to recover $8.5 million from two loans, losing $4.5 million to a rabbi and $4 million to a developer. The rabbi faces criminal charges, and the developer's loan was sold to investors.YahooList of failed banks: 2009-2026The article reports that one FDIC-insured bank, Metropolitan Capital Bank & Trust, failed in 2026, marking the first failure of the year. It also reviews recent history of bank failures in the US, highlighting five failures in 2023, and discusses the rarity and causes of bank failures.JD SupraTroutman Pepper Locke Weekly Consumer Financial Services Newsletter – February 2026 # 2This weekly newsletter summarizes significant federal and state regulatory activities affecting the consumer financial services industry, covering the period from late January to early February 2026. Key federal developments include the CFTC revising its stablecoin no-action letter to include OCC-chartered national trust banks as permitted issuers, the CFPB receiving a clean audit opinion for fiscal year 2025, and the FDIC extending the comment period for GENIUS Act implementation rules to May 2026. State-level actions included the closure of Metropolitan Capital Bank & Trust by Illinois regulators with First Independence Bank assuming its operations, California's investigation into surveillance pricing practices, and a coalition of state attorneys general opposing OCC's proposed escrow account rule.BenzingaFirst US Bank Failure Of 2026 Hits, But Another One Looks Unlikely, Polymarket Says - State Street SPDR SMetropolitan Capital Bank & Trust became the first U.S. bank to fail in 2026 after Illinois regulators shut the small Chicago lender on Jan. 30, with the FDIC stepping in as receiver and brokered deposits to First Independence Bank. The FDIC estimated the cleanup will cost the Deposit Insurance Fund $19.7 million against a bank that had just $261.1 million in assets and $212.1 million in deposits as of Sept. 30, 2025. Traders on Polymarket are pricing an 18% probability of another U.S. bank failure by March 31, though regional bank ETFs are trading higher on the day, suggesting markets view the event as idiosyncratic.The Real DealMetropolitan Capital Bank & Trust’s failure in Chicago tied to troubled real estate loanIllinois regulators seized Chicago-based Metropolitan Capital Bank & Trust, holding approximately $261 million in assets, appointing the FDIC as receiver in what appears to be the first FDIC-insured bank failure of 2026, with all deposits and most assets transferred to Detroit-based First Independence Bank. Court filings reviewed by the outlet reveal the failure was tied to a $4.5 million commercial real estate loan originated in 2014 to entities controlled by Chicago investor Zvi Feiner, which was junior to a $146 million defaulted HUD-insured mortgage, ultimately exposing the bank to losses it could not recover after an Illinois appellate court ruled in 2020 that Metropolitan failed to conduct basic due diligence. The bank's exposure to this single loan proved destabilizing, drawing regulatory scrutiny that culminated in a 2019 consent order citing unsafe and unsound conditions, impaired capital, and substandard lending practices.Chicago TribuneChicago’s Metropolitan Capital Bank becomes first US bank failure of 2026Metropolitan Capital Bank & Trust, a Chicago-based bank focused on small- to medium-sized businesses, was closed on Friday by the Illinois Department of Financial and Professional Regulation due to unsafe and unsound conditions and an impaired capital position, marking the first U.S. bank failure of 2026.Financial ExpressMetropolitan Capital Bank & Trust closed; FDIC transfers deposits to First IndependenceMetropolitan Capital Bank & Trust was closed on January 30, 2026, by the Illinois Department of Financial and Professional Regulation, with the FDIC appointed as receiver, marking the first bank failure in the United States that year. The FDIC entered into a purchase and assumption agreement with First Independence Bank, which assumed substantially all deposits and purchased approximately $251 million of the failed bank's assets. As of September 30, 2025, Metropolitan Capital Bank & Trust reported total assets of $261.1 million and total deposits of $212.1 million, with the FDIC estimating the failure will cost its Deposit Insurance Fund about $19.7 million.Crypto BriefingChicago-based Metropolitan Capital Bank becomes first bank to fail in 2026Metropolitan Capital Bank & Trust, a Chicago-based single-branch lender, was shut down by regulators on Friday and became the first US bank to fail in 2026, with the FDIC appointed as receiver. First Independence Bank will assume substantially all deposits and acquire approximately $251 million in assets, with the former branch reopening on February 2 as a First Independence Bank location. The FDIC estimates the failure will cost its Deposit Insurance Fund roughly $19.7 million, following a period of minimal bank failures with only two small institutions failing in 2025.