State regulators closed Metropolitan Capital Bank & Trust on Friday, marking the first bank failure in the United States in 2026 and Chicago’s second in as many years.
The Illinois Department of Financial and Professional Regulation ordered the River North-based bank’s closure due to concerns over its financial stability.
The Federal Deposit Insurance Corporation was named receiver and brokered the sale of most of the bank’s $261 million in assets to First Independence Bank in Detroit, including all deposits. Customers still have immediate access to their money, and loan customers’ payments are still due…