Bank Collapse in Illinois: First Bank Failure in the U.S. During 2026

The insolvency of Metropolitan Capital Bank & Trust marks a negative milestone for the U.S. financial sector. According to information from NS3.AI, federal authorities have formalized the closure of this institution located in Illinois, marking the first event of this magnitude in 2026. This bank failure has prompted a series of immediate measures by regulatory agencies.

FDIC Takes Control of Metropolitan Capital Bank & Trust

The Federal Deposit Insurance Corporation (FDIC) has assumed its role as receiver of the failed bank. In its capacity as supervisor of the U.S. financial system, the FDIC has coordinated the necessary administrative and legal procedures to manage the transition. This action is a standard but significant procedure that reflects the severity of the situation in the banking sector.

First Independence Bank Assumes Customer Portfolio

As part of contingency measures, First Independence Bank has been designated to take over most of the deposits and operations of Metropolitan Capital Bank & Trust. This absorption mechanism aims to minimize disruption for depositors and maintain market stability. The transfer of assets provides a continuity solution to protect the interests of affected clients.

Significant Cost to the Deposit Insurance Fund

The closure of this institution will result in an estimated expenditure of $19.7 million from the FDIC Deposit Insurance Fund. This expense represents resources allocated to ensure coverage of insured deposits and cover administrative costs of the bankruptcy process. The financial impact underscores the importance of maintaining rigorous supervisory systems in the U.S. banking sector.

The occurrence of this bankruptcy early in 2026 raises questions about the overall health of the financial system and the effectiveness of existing regulatory mechanisms in the U.S.