Illinois regulators on Friday closed Metropolitan Capital Bank & Trust in Chicago and appointed the FDIC as receiver. First Independence Bank in Detroit has agreed to assume substantially all of the failed bank’s deposits.
As of Sept. 30, 2025, Metropolitan Capital Bank reported total assets of $261.1 million and total deposits of $212.1 million. In addition to assuming the deposits, First Independence will purchase $251 million of the bank’s assets. The FDIC will retain the remaining assets for later disposition.
The FDIC preliminarily estimated that the failure would cost its Deposit Insurance Fund about $19.7 million. The estimate will change over time as retained assets are sold.
