The Federal Deposit Insurance Corporation (FDIC) announced that First Independence Bank in Detroit, Michigan, has assumed all deposits of Metropolitan Capital Bank & Trust, which was closed by the Illinois Department of Financial and Professional Regulation. The FDIC appointed as receiver and entered into a purchase and assumption agreement with First Independence Bank. Metropolitan Capital Bank & Trust’s sole office will reopen as a First Independence Bank branch on February 2, 2026. Depositors will automatically become customers of First Independence Bank, with FDIC insurance continuing for all deposits. Customers may access funds via checks, ATMs, or debit cards immediately. The FDIC estimates the failure will cost its Deposit Insurance Fund about $19.7 million. As of September 30, 2025, Metropolitan Capital Bank & Trust had $212.1 million in deposits and $261.1 million in assets. The FDIC will retain remaining assets for later disposition.
https://www.fdic.gov/news/press-releases/2026/first-independence-bank-detroit-michigan-assumes-all-deposits-metropolitan
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