US financial regulators abruptly shut Metropolitan Capital Bank & Trust…first US bank failure of 2026
Summary
- US financial regulators said they abruptly shut Metropolitan Capital Bank & Trust, marking the first bank failure this year.
- The FDIC said it signed a purchase and assumption agreement with First Independence Bank and will transfer most deposits, with branches set to reopen on Feb. 2.
- The cause of the failure was not disclosed, and the episode is estimated to result in a $19.7 million loss to the Deposit Insurance Fund (DIF).
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US financial regulators have abruptly shut down Metropolitan Capital Bank & Trust, headquartered in Illinois. It is the first bank failure in the United States this year.
According to The Daily Hodl on the 31st (Korea time), the Federal Deposit Insurance Corp. (FDIC) said the Illinois Department of Financial and Professional Regulation (IDFPR) ordered Metropolitan Capital Bank & Trust to cease operations and appointed the FDIC as receiver.
The FDIC said it signed a purchase and assumption agreement with First Independence Bank to transfer most deposits. As a result, Metropolitan Capital Bank branches are set to reopen as First Independence Bank branches on Feb. 2.
The FDIC explained that "depositors will automatically become customers of the assuming bank without taking any action, and their deposits will continue to be protected by FDIC insurance as before."
The Chicago-headquartered bank has total assets of about $260 million. The cause of the failure was not disclosed, and the episode is estimated to result in a loss of about $19.7 million to the Deposit Insurance Fund (DIF).
Uk Jin
wook9629@bloomingbit.ioH3LLO, World! I am Uk Jin.
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