On Friday, January 30, 2026, Metropolitan Capital Bank & Trust was closed by the Illinois Department of Financial and Professional Regulation. The Federal Deposit Insurance Corporation (FDIC) was named Receiver. No advance notice is given to the public when a financial institution is closed. First Independence Bank, Detroit, MI assumed substantially all the deposit accounts and substantially all the assets. All shares of stock were owned by the holding company, which was not involved in this transaction.
If You Had a Deposit Account
The full balance of all deposit accounts, excluding certain brokered deposits, has been transferred to First Independence Bank.
You may continue to use your checks and ATM/Debit card. Direct deposits like paychecks and social security benefits will continue as usual. Please refer to the Banking Services section below for more details.
EDIE — Electronic Deposit Insurance Estimator
Calculate insurance coverage of deposit accounts
Facts for Depositors
General information explaining the role of FDIC
If You Had a Loan
You should continue to make payments, including escrow payments, as usual; the terms of your loan will not change.
If your loan is currently in process or you had a line of credit, contact your loan officer.
If you are making escrow payments and receive notification that any portion of your taxes or insurance was not paid, contact your loan officer.
If you received notice that the FDIC retained your loan, and you have questions, please visit the FDIC Information and Support Center.
Obtaining a Lien Release
Process on getting a release of lien
Borrower’s Guide to an FDIC Insured Bank Failure
Overview of how FDIC processes loans
Facts for Borrowers
General information explaining the role of FDIC
If You Are Owed Money for a Service or Product Provided
You may be eligible to file a claim against Metropolitan Capital Bank & Trust.
If you have not been paid for services rendered on or before January 30, 2026, please refer to the Filing Claims section below.
Facts for Creditors
General information explaining the role of FDIC
Beware of Scams
If you are concerned about becoming a victim of fraud, be advised that you will not receive any communication from the FDIC requesting any private information. Be watchful for and resistant to any scams to obtain information from you by individuals or entities stating they are acting on behalf of Metropolitan Capital Bank & Trust, First Independence Bank, or the FDIC. The FDIC, however, will encourage you to correspond with us via the Failed Bank Customer Service Center (FBCSC), a secure web portal.
Acquiring Institution: First Independence Bank
About First Independence Bank
All deposit accounts, excluding Cede & Co. deposits, have been transferred to First Independence Bank, Detroit, MI ("assuming institution") and will be available immediately. The former Metropolitan Capital Bank & Trust location(s) will reopen as branch(es) of First Independence Bank during regular business hours.
All transferred deposits will be separately insured from any accounts you may already have at First Independence Bank for at least six months after the failure of Metropolitan Capital Bank & Trust. Checks that were drawn on Metropolitan Capital Bank & Trust that did not clear before the institution closed will be honored as long as there are sufficient funds in the account.
First Independence Bank will review deposit rates. You will be notified of any changes. You may withdraw your funds from any transferred account without an early withdrawal penalty until you enter into a new deposit agreement with First Independence Bank as long as the deposit(s) are not pledged as collateral for loan(s).
Contacting First Independence Bank
First Independence Bank
7310 Woodward Ave
Detroit, MI 48202
First Independence Bank (www.firstindependence.com)
Brokered Accounts
All deposit accounts, excluding certain brokered deposits, have been transferred to First Independence Bank. If you are a customer who has a Metropolitan Capital Bank & Trust deposit through a broker, you must contact your broker with any questions.
Automatic Payments/Bill Pay/Online Banking
These services will continue as usual. Your routing number and account number will remain the same until you are notified in writing by First Independence Bank.
ATM and Debit Cards
Your ATM/Debit card will continue to work as usual.
Checks
Your checks will be processed as usual. All outstanding checks will be paid against your available balance(s). First Independence Bank will contact you soon regarding any changes in the terms of your account. If you have a problem with a merchant refusing to accept your check, please contact your branch office.
Direct Deposit
All direct deposits, for example, social security, payroll, veterans' benefits, disability, unemployment or any payment you receive electronically will continue as usual.
Overdraft Lines of Credit
These lines have been transferred to First Independence Bank. Please contact First Independence Bank if you have additional questions regarding your accounts.
Safe Deposit Boxes
You will have access to your safe deposit boxes during normal business hours. Any changes will be communicated by First Independence Bank.
Tax Reporting — 1098 and/or 1099
First Independence Bank will be responsible for mailing your 1099 tax information. Your 1098 reporting will be done by the FDIC or the servicer of your loan. You will be notified of any changes in ownership or servicing of your loan.
Creditors
If you or your company provided a service or product, leased space, furniture, or equipment to Metropolitan Capital Bank & Trust on or before January 30, 2026, and have not been paid, you may have a claim against Metropolitan Capital Bank & Trust.
All creditors having claims against Metropolitan Capital Bank & Trust must submit their Proof of Claim form, along with the supporting documentation, to the Receiver through one of the following methods: online, by email, or by mail. You can complete the Proof of Claim form and provide supporting documentation electronically through the Failed Bank Customer Service Center (FBCSC). To file a claim via email or mail, please go to Deposit Claims & Asset Sales to obtain a Proof of Claim form. Please complete the Proof of Claim form along with supporting documentation and submit via email, or by mail.
Online (Electronic Filing):
Failed Bank Customer Service Center (FBCSC)
Email:
Mail:
FDIC as Receiver for Metropolitan Capital Bank & Trust
Attention: Non-Deposit Claims
600 North Pearl Street
Suite 700
Dallas, TX 75201
NOTE TO CLASS CLAIMANTS: By law, the Receiver will not accept a claim filed on behalf of a proposed class of individuals or entities or a class of individuals or entities certified by a court. EACH individual or entity must file a separate claim with the Receiver.
Priority of Claims
In accordance with Federal law, allowed claims will be paid, after administrative expenses, in the following order of priority:
- Depositors
- General Unsecured Creditors
- Subordinated Debt
- Stockholders
Shareholders
All shares of Metropolitan Capital Bank & Trust are owned by its holding company, Metropolitan Capital Bancorp, Inc., Chicago, IL. The holding company was not included in the closing of the bank or resulting receivership.
Contacting the Holding Company
If you are a shareholder, please do not contact or file a claim with the Receiver. You must contact the holding company directly:
Metropolitan Capital Bancorp, Inc.
9 East Ontario Street
Chicago, IL 60611
Contact Information
Questions About This Closing
Contact the FDIC Call Center at 1-866-314-1744.
Hours of Operation
Central Time
| Day | Time |
|---|---|
| Friday, January 30, 2026 | Until 9:00 p.m. |
| Saturday, January 31, 2026 | 9:00 a.m. – 6:00 p.m. |
| Sunday, February 1, 2026 | 12:00 p.m. – 6:00 p.m. |
| Monday, February 2, 2026 | 8:00 a.m. – 8:00 p.m. |
| Thereafter: | 9:00 a.m. – 5:00 p.m. |