On January 30, 2026, Metropolitan Capital Bank & Trust abruptly closed its doors, leaving customers and stakeholders in a state of uncertainty. The Illinois Department of Financial and Professional Regulation, in collaboration with the Federal Deposit Insurance Corporation (FDIC), took swift action, naming the FDIC as the Receiver. This closure affected depositors, borrowers, and creditors alike, prompting a series of important actions and considerations for those impacted.
Depositors: Your Funds Are Safe and Accessible
First Independence Bank, based in Detroit, MI, has seamlessly assumed the majority of deposit accounts and assets, ensuring that your funds remain secure. You can continue using your checks, ATM/Debit cards, and direct deposits without interruption. For further details, refer to the 'Banking Services' section for comprehensive information on how your banking experience will transition.
Loan Holders: Stay Informed and Act Promptly
If you have a loan with Metropolitan Capital Bank & Trust, it's crucial to maintain regular payments as per the original terms. Contact your loan officer if you have any concerns or questions about your loan status. The FDIC provides resources like the 'Facts for Borrowers' to guide you through the process.
Unpaid Services: File Claims for Compensation
If you provided services or products to the bank and haven't been compensated, you may be eligible to file a claim. Refer to the 'Filing Claims' section for detailed instructions on how to submit your claim and the necessary documentation. Remember, the FDIC emphasizes the importance of verifying the authenticity of any communication from individuals or entities claiming to represent the bank.
Stay Alert: Scams and Fraud Prevention
Be cautious of potential scams. The FDIC advises against sharing private information with unauthorized parties. If you receive suspicious communications, contact the FDIC via the secure web portal, the Failed Bank Customer Service Center (FBCSC), to ensure your information remains protected.
Contact Information and Support
For any questions or concerns regarding the closure, the FDIC Call Center is available at 1-866-314-1744. The center operates with extended hours during the initial days following the closure, providing support and guidance to those affected.
