A failed Chicago bank was scheduled to reopen Monday after 96% of its assets were acquired by a Detroit institution, the federal deposit insurance agency said late Friday.
The first bank to fail in 2026 is a $261 million in assets Chicago institution, which will cost the federal deposit insurance agency an estimated $19.7 million, the agency said late Friday.
The Federal Deposit Insurance Corp. (FDIC) said Metropolitan Capital Bank & Trust of Chicago the first bank to fail in 2026. As of September 2025, the bank held $261 million in assets. The FDIC said it estimates the bank’s failure will cost its Deposit Insurance Fund (DIF) $19.7 million.
Most the bank’s assets were acquired by First Independence Bank of Detroit, Mich. The FDIC said First Independence assumed all deposits of the closed bank. Those deposits totaled $212.1 million, also as of Sept. 30.
The FDIC gave no reason for the bank’s failure, or the cause of the estimated loss. “The estimate will change over time as retained assets are sold,” the FDIC said.
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