Regulatory Alerts2026-01-30
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State of Illinois Announces Steps to Protect Customers and Their Deposits at State-Chartered Bank
The Illinois Department of Financial and Professional Regulation Division of Banking, in cooperation with the Federal Deposit Insurance Corporation, took possession and control of Metropolitan Capital Bank & Trust in Chicago on January 30, 2026, at 5 p.m. CST. First Independence Bank of Detroit has agreed to purchase the bank, which had approximately $261 million in assets at the time of closure, and will immediately operate it as a branch. Services will continue without interruption, with the branch scheduled to open during normal business hours on Monday, February 2, 2026.
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