Metropolitan Capital Bank & Trust, headquartered in Chicago, Illinois, was closed by state and federal regulatory authorities after suffering severe financial distress driven by impaired capital reserves and high loan charge-offs. As the primary banking failure of its period, the institution held over two hundred million dollars in total deposits. To protect client funds and maintain regional financial stability, the Federal Deposit Insurance Corporation arranged a purchase and assumption agreement with First Independence Bank, transferring all eligible customer deposits and ensuring uninterrupted access to accounts, debit cards, and automated banking services.