15 most recent bank failures

Published February 9, 2026 5:06 PM

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Updated February 9, 2026 5:41 PM

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The demise of Metropolitan Capital Bank & Trust on Jan. 30 marked the first bank failure of 2026 and the 15th since November 2019.

The Federal Deposit Insurance Corp. took over the $261.1 million-asset bank, and agreed to sell substantially all of its deposits and some of its assets to First Independence Bank.

"The FDIC preliminarily estimates that the failure will cost its Deposit Insurance Fund (DIF) about $19.7 million," the agency said in a press release. "The estimate will change over time as retained assets are sold.

This failure is expected to cost the FDIC less than the previous one, Santa Anna National Bank, which was estimated to cost the DIF about $23.7 million.

The Office of the Comptroller of the Currency closed Santa Anna National Bank in June 2025. Coleman County State Bank assumed the failed bank's insured deposits. The FDIC expressed suspicion that fraud contributed to the failure.

These summaries below were drafted using AI and then reviewed by the American Banker editorial team.

Bank	Location	Date of Failure
Metropolitan Capital Bank & Trust	Chicago, IL	1/30/2026
The Santa Anna National Bank	Santa Anna, TX	6/27/2025
Pulaski Savings Bank	Chicago, IL	1/17/2025
First National Bank of Lindsay	Lindsay, OK	10/18/2024
Republic First Bank	Philadelphia, PA	04/26/24
Citizens Bank	Sac City, IA	11/3/2023
Heartland Tri-State Bank	Elkhart, KS	7/28/2023
First Republic Bank	San Francisco, CA	4/28/2023
Signature Bank	New York, NY	3/12/2023
Silicon Valley Bank	Santa Clara, CA	3/10/2023
Almena State Bank	Almena, KS	10/23/2020
First City Bank of Florida	Fort Walton Beach, FL	10/16/2020
First State Bank	Barboursville, WV	4/3/2020
Ericson State Bank	Ericson, NE	02/14/20
City National Bank of New Jersey	Newark, NJ	11/1/2019

Metropolitan Capital Bank & Trust

Chicago, IL

Asset size: $261.1 million, as of Sept. 30, 2025

Date of failure: Friday, Jan. 30, 2026

Who shut down the bank: Illinois Department of Financial and Professional Regulation

What happened to customers and their deposits: They became depositors of Detroit-based First Independence Bank, which assumed all $212.1 million of deposits.

What else readers should know: First Independence acquired $251 million of Metropolitan's assets, and the failure was estimated to cost the FDIC's Deposit Insurance Fund $19.7 million.

Link to article:

https://www.americanbanker.com/news/chicago-bank-becomes-first-failure-of-2026

Santa Anna National Bank

Santa Anna, Texas

Asset size: $63.8 million, as of June 18, 2025

Date of failure: Friday, June 27, 2025

Reason for failure: The bank experienced a substantial fall in assets and earnings, and the FDIC expressed suspicion that fraud contributed to the failure.

Who shut down the bank: Office of the Comptroller of the Currency

What happened to customers and their deposits: Coleman County State Bank agreed to buy the insured deposits, and depositors became customers of the acquiring bank. Approximately $2.8 million of deposits exceeded FDIC insurance limits, and the FDIC said it would determine later whether to provide uninsured depositors with access to a portion of their uninsured funds.

What else readers should know: The FDIC estimated the failure would cost the Deposit Insurance Fund $23.7 million, or about 15% of the bank's total assets.

Link to article:

https://www.americanbanker.com/news/occ-shutters-small-texas-bank-due-to-suspected-fraud

Pulaski Savings Bank

Chicago, IL

Asset size: $49.5 million, as of Sept. 30, 2024

Date of failure: Friday, Jan. 17, 2025

Reason for failure: The FDIC expressed suspicion that fraud occurred.

Who shut down the bank: Illinois Department of Financial and Professional Regulation

What happened to customers and their deposits: They automatically became depositors of Des Plaines, Illinois-based Millennium Bank, which assumed all $42.7 million of deposits.

What else readers should know: The FDIC estimated the failure would cost the Deposit Insurance Fund approximately $28.5 million. Millennium Bank agreed to purchase approximately $45 million of the failed bank's assets for a 4.61% premium.

Link to article:

https://www.americanbanker.com/news/pulaski-savings-bank-fails-millennium-bank-assumes-deposits

First National Bank of Lindsay

Lindsay, Oklahoma

Asset size: $107.8 million, as of June 30, 2024

Date of failure: Friday, Oct. 18, 2024

Reason for failure: After the bank's capital fell, there were allegations of false and deceptive bank records and other information suggesting fraud. The OCC referred the matter to the Department of Justice, and the failed bank's former president was later indicted in connection with alleged fraud.

Who shut down the bank: Office of the Comptroller of the Currency

What happened to customers and their deposits: First Bank & Trust in Duncan, Oklahoma, assumed the bank's insured deposits. The FDIC said it would make 50% of the uninsured funds — approximately $7.1 million out of $97.5 million of total deposits exceeded insurance limits — available to depositors, with that amount potentially increasing as the FDIC sold remaining assets.

What else readers should know: The failure was projected to cost the Deposit Insurance Fund $43 million.

Link to article:

https://www.americanbanker.com/news/first-national-bank-of-lindsay-failure-one-off-or-sign-of-the-times

Republic First Bank

Philadelphia, Pennsylvania

Asset size: $6 billion, as of Jan. 30, 2024

Date of failure: Friday, April 26, 2024

Reason for failure: The bank had struggled for years to maintain adequate capital. Regulatory capital was barely positive, and equity was wiped out, when counting $425 million in unrealized losses from bond investments. The issues were compounded by failed capital raises and internal strife from a proxy war with activist investors.

Who shut down the bank: Pennsylvania Department of Banking and Securities

What happened to customers and their deposits: Fulton Bank assumed substantially all of Republic First's $4 billion of deposits.

What else readers should know: The failure was expected to result in a $667 million loss to the Deposit Insurance Fund.

Link to article:

https://www.americanbanker.com/news/republic-first-fails-fulton-bank-acquires-assets-branches

Citizens Bank

Sac City, Iowa

Asset size: $66 million, as of Sept. 30, 2023

Date of failure: Friday, Nov. 3, 2023

Reason for failure: Examiners identified significant loan losses stemming from problems in the bank's commercial trucking portfolio, as the trucking industry experienced a deep downturn.

Who shut down the bank: Iowa Division of Banking

What happened to customers and their deposits: Iowa Trust and Savings Bank in Emmetsburg purchased Citizens' assets, including all consumer, commercial and public deposits. There were no losses to depositors.

What else readers should know: Citizens, the first Iowa bank to fail since 2011, had been operating under a regulatory consent order focusing on its commercial trucking portfolio. The FDIC estimated the failure would result in a $14.8 million loss to the Deposit Insurance Fund.

Link to article:

https://www.americanbanker.com/news/iowa-bank-is-fifth-failure-this-year

Heartland Tri-State Bank

Elkhart, Kansas

Asset size: $139 million, as of March 31, 2023

Date of failure: Friday, July 28, 2023

Reason for failure: The bank's CEO was later accused of funneling the money into cryptocurrency investments for his own personal benefit. He eventually pleaded guilty to embezzling $47.1 million from the bank.

Who shut down the bank: Kansas Office of the State Bank Commissioner

What happened to customers and their deposits: Dream First Bank in Syracuse, Kansas, assumed all deposits.

What else readers should know: The failure was expected to cost the Deposit Insurance Fund $54.2 million.

Link to article:

https://www.americanbanker.com/news/dream-first-bank-assumes-heartland-tri-state-banks-deposits

First Republic Bank

San Francisco, California

Asset size: $229.1 billion, as of April 13, 2023

Date of failure: Monday, May 1, 2023

Reason for failure: First Republic was caught off guard by a rapid rise in interest rate rises that caused its long-term mortgages and municipal bonds to lose value. The bank had also experienced a 40.8% drop in deposits since the end of 2022, a problem accelerated by the fact that nearly 68% of First Republic's deposits were not FDIC-insured.

Who shut down the bank: California Department of Financial Protection and Innovation

What happened to customers and their deposits: JPMorganChase acquired all of First Republic's deposits and substantially all of its assets. All depositors, including uninsured depositors, were covered.

What else readers should know: The FDIC and JPMorgan entered into a loss-share agreement on certain single-family residential mortgages and commercial loans, The failure was expected to cost the Deposit Insurance Fund about $13 billion.

Link to article:

https://www.americanbanker.com/news/with-first-republic-on-the-brink-all-eyes-are-on-uninsured-deposits

Signature Bank

New York, New York

Asset size: $110.4 billion, as of Dec. 31, 2022

Date of failure: Sunday, March 12, 2023

Reason for failure: The bank was shut down following deposit outflows related to crypto market uncertainty, and amid fears of a wider liquidity crisis. Deposits had declined by 17% on a year-over-year basis.

Who shut down the bank: New York State Department of Financial Services

What happened to customers and their deposits: Deposits and borrowers automatically became customers of Signature Bridge Bank, which was operated by the FDIC. All depositors were made whole.

What else readers should know: Greg Carmichael, the retired CEO of Fifth Third Bancorp, was appointed to lead the bridge bank, while senior managers at Signature, including CEO Joseph DePaolo, were removed from their positions. Later in March 2023, New York Community Bancorp, now known as Flagstar Bancorp, agreed to buy substantially all of Signature's deposits and certain loan portfolios, save for its digital-asset banking business and deposits.

Link to article:

https://www.americanbanker.com/news/regulators-shut-signature-bank-pick-industry-veteran-to-run-bridge-bank

Silicon Valley Bank

Santa Clara, California

Asset size: $212 billion, as of Dec. 31, 2022

Date of failure: Friday, March 10, 2023

Reason for failure: The bank was hobbled by a downturn in the tech industry and a rapid rise in interest rates, which hurt the value of its securities portfolio. After SVB announced that it was selling a $21 billion securities portfolio at a $1.8 billion loss, and also embarking on a major capital raise, it started to lose deposits at a rapid clip. Regulators stepped in to close the bank just two days after the bank announced plans for a capital raise.

Who shut down the bank: California Department of Financial Protection and Innovation

What happened to customers and their deposits: The FDIC created the Deposit Insurance National Bank of Santa Clara and transferred all insured deposits to that entity. A few days later, all deposits and substantially all assets were transferred to a newly created bridge bank called Silicon Valley Bridge bank, and former Fannie Mae CEO Tim Mayopoulos was appointed as its chief executive.

What else readers should know: Later in March 2023, First Citizens BancShares in Raleigh, North Carolina, agreed to purchase certain assets and deposits from the FDIC. The FDIC agreed to share in any losses or gains on the failed bank's commercial loans.

Link to article:

https://www.americanbanker.com/news/regulators-take-over-silicon-valley-bank-citing-poor-liquidity-and-insolvency

Almena State Bank

Almena, Kansas

Asset size: $70 million, as of June 30, 2020

Date of failure: Friday, Oct. 23, 2020

Reason for failure: The FDIC said the bank was experiencing longstanding capital and asset quality issues that were unrelated to the economic fallout from the COVID-19 pandemic.

Who shut down the bank: Kansas Office of the State Bank Commissioner

What happened to customers and their deposits: Equity Bank in Andover, Kansas, acquired the failed bank's operations and assumed all of Almena's $68.7 million of deposits.

What else readers should know: The second bank failure in as many weeks was estimated to cost the Deposit Insurance Fund $18.3 million. Almena had lost more than $9.3 million since 2018 and had been operating under an FDIC consent order since April 2019. It was one of several banks caught up in a $2 billion check-kiting scheme in 2019.

Link to article:

https://www.americanbanker.com/news/regulators-close-kansas-bank-in-fourth-failure-of-2020

First City Bank of Florida

Fort Walton Beach, Florida

Asset size: $134.7 million

Date of failure: Friday, Oct. 16, 2020

Reason for failure: The FDIC said the bank was suffering "longstanding capital and asset quality issues" that were unrelated to the economic fallout from the COVID-19 pandemic. The bank had blamed much of its troubles on the 2008 financial crisis and damage caused by the Deepwater Horizon oil spill.

Who shut down the bank: Florida Office of Financial Regulation

What happened to customers and their deposits: United Fidelity Bank in Evansville, Indiana, agreed to assume all of the failed bank's $131.4 million of deposits.

What else readers should know: The bank had lost more than $3 million since 2017 and had not turned an annual profit since 2016.

Link to article:

https://www.americanbanker.com/news/regulators-close-florida-bank-in-third-failure-of-2020

First State Bank

Barboursville, West Virginia

Asset size: $152.4 million

Date of failure: Friday, April 3, 2020

Reason for failure: The bank's capital levels fell below legal limits under state and federal law. It had operated with financial difficulties since 2015 and had not turned a profit since 2013.

Who shut down the bank: West Virginia Division of Financial Institutions

What happened to customers and their deposits: MVB Financial assumed the bank and all four of its branches.

What else readers should know: The FDIC stated that the failure was expected to cost the FDIC's Deposit Insurance Fund about $46.8 million.

Link to article:

https://www.americanbanker.com/news/bank-in-west-virginia-is-closed-by-regulators

Ericson State Bank

Ericson, Nebraska

Asset size: $100.9 million, as of Dec. 31, 2019

Date of failure: Friday, Feb. 14, 2020

Reason for failure: The bank struggled for a decade to overcome regulatory enforcement actions. Since 2010, it had been hit with two FDIC consent orders that cited poor management and weak capital controls.

Who shut down the bank: Nebraska Department of Banking and Finance

What happened to customers and their deposits: Farmers and Merchants Bank of Milford, Nebraska, assumed all $95.2 million of deposits.

What else readers should know: The FDIC said the cost to the Deposit Insurance Fund was expected to be about $14.1 million.

Link to article:

https://www.americanbanker.com/news/nebraska-bank-is-first-failure-of-2020

City National Bank of New Jersey

Newark, New Jersey

Asset size: $120.6 million, as of Sept. 30, 2019

Date of failure: Friday, Nov. 1, 2019

Reason for failure: The bank suffered substantial reductions in both assets and earnings, was undercapitalized, and failed to submit a capital restoration plan acceptable to the OCC.

Who shut down the bank: Office of the Comptroller of the Currency

What happened to customers and their deposits: Industrial Bank in Washington, D.C., assumed all of the failed bank's deposits.

What else readers should know: The failure of City National, a minority depository institution, was estimated to cost the Deposit Insurance Fund about $2.5 million.

Link to article:

https://www.americanbanker.com/news/bank-failure-in-new-jersey-is-nations-third-in-a-week