Frequently Asked Questions for Metropolitan Capital Bank & Trust, Chicago, IL

Failed Bank Information for Metropolitan Capital Bank & Trust, Chicago, IL

The following list of responses to frequently asked questions may assist you in understanding what happened at Metropolitan Capital Bank & Trust.

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On Friday, January 30, 2026, Metropolitan Capital Bank & Trust, Chicago, Illinois, was closed by the Illinois Department of Financial and Professional Regulation. The Federal Deposit Insurance Corporation (FDIC) was then appointed Receiver. The FDIC entered into a purchase and assumption agreement with First Independence Bank, Detroit, Michigan, to assume substantially all the deposits and assets of Metropolitan Capital Bank & Trust.

Is My Money Safe?

Yes! No one lost any money on deposit as a result of the closure of this bank. Substantially all the deposits, regardless of dollar amount, were transferred to First Independence Bank. 

Do I Have Access to My Money?

Yes! You may continue to use your same checks, and they will clear up to the balance in your account. Your ATM/Debit card will continue to work as usual. The total balance in your account(s), including checking, savings, money markets, certificates of deposit, and retirement accounts, has been transferred to First Independence Bank and will be available for transactions daily. 

What Happens with My Direct Deposits?

All direct deposits, for example, social security, payroll, veterans’ benefits, disability, unemployment or any payment you receive electronically will continue as usual. 

Will My Autopayments/Bill Pay/Online Banking Still Work?

Yes! 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.

Will I Receive Interest on My Interest Bearing Accounts?

Yes! Interest on deposits accrued through January 30, 2026, will be paid at your same rate. Metropolitan Capital Bank & Trust rates will be reviewed by First Independence Bank, and you will be notified in writing of any changes. You may withdraw funds from any transferred account without an early withdrawal penalty until you enter into a new deposit agreement with First Independence Bank.

What Happens with My Brokered Deposits?

Substantially all the deposits, excluding the Cede & Co deposits, have been assumed by 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.

How Will I Get My 1098/1099s For Tax Reporting?

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.

Can I Overdraft My Account or Use a Line of Credit?

Lines of credit have been transferred to First Independence Bank. For questions on the use of existing credit lines and overdrafts, or new lending, please contact them directly. 

Do I Continue to Make My Loan Payments?

You should continue to make your payments according to the terms of your written contract. You may continue to send your payments to the same payment address with checks made payable to Metropolitan Capital Bank & Trust. You will receive a letter advising you of any changes.

If you need to contact an FDIC Loan Representative you may:

• Send an email to FDIC_Loans@fdic.gov.
• Contact Us at FDIC.gov or the following support center link: FDIC Information and Support Center. 

Will My Escrow Payments Still Be Made?

All services previously performed related to your loan will continue. Should you receive notification that any portion of your taxes or insurance was not paid, notify your loan officer immediately. 

I Have a Loan in Process, What Do I Do?

Please contact your current loan officer directly.

I Am a Shareholder of Metropolitan Capital Bancorp, Inc., Who Should I Reach Out To?

The holding company was not included in the closing of the bank or the resulting receivership. If you are a shareholder, please do not contact or file a claim with the Receiver. You must contact the holding company directly for more information. 

Metropolitan Capital Bancorp, Inc.
9 East Ontario Street
Chicago, Illinois 60611

What If Metropolitan Capital Bank & Trust Owes Me Money, How Do I File a Claim?

Creditors must submit claims in writing, together with proof of the claim. Please visit the FDIC’s secure Failed Bank Customer Service Center to submit your claim electronically at Failed Bank Customer Service Center (FBCSC). To file a claim via mail, please send it to the following address:

FDIC as Receiver for Metropolitan Capital Bank & Trust
600 N. Pearl Street, Suite 700
Dallas, Texas 75201
Attention: Claims Agent

What If I Have a Deposit Account at First Independence Bank?

If you have accounts at both Metropolitan Capital Bank & Trust and First Independence Bank, they will be insured separately for at least six months following the merger of the banks. This will allow you time to restructure your accounts if necessary.

Should I Be Worried About 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.

I Have More Questions.

Contact the FDIC Call Center at the number provided below with any additional questions:

FDIC Call Center: 1-866-314-1744

Hours of Operation

Central Time

Additional information: Failed Bank List