Metropolitan Capital Bank & Trust in Chicago became the first bank failure of 2026. The $261 million-asset bank was closed by the Illinois Department of Financial and Professional Regulation. The Federal Deposit Insurance Corp. entered into a purchase-and-assumption agreement to sell substantially all of the bank's $212.1 million of deposits to First Independence Bank in Detroit. The $699.6 million-asset First Independence also bought about $251 million of the failed bank’s

Seis, a neobank that focused on the Hispanic community, is shutting down. The neobank, which launched nearly five years ago, had opened accounts for more 500,000 people and grew to $10 million in revenue 16 months after launching. "So what happened? There's a lot to say here, but the short story is that immigration patterns changed and we saw less demand for our product," Joshua Howland, the company's co-founder and

Peoples Financial Services in Moosic, Pa., said its president plans to retire. The company said in a press release that Thomas Tulaney will step down on April 3. Following retirement, Tulaney is expected to continue to serve as a senior advisor role. Gerard Champi, the company's CEO, is expected to become president.

Shelby County State Bank in Harlan, Iowa, is closing three Iowa branches. The bank said in a press release that it will close locations in Irwin, Portsmouth, and Battle Creek on April 30. “We are incredibly grateful for the relationships we’ve built in these communities over the years,” Kevin Campbell, the bank's president and CEO, said in the release. “We understand that change can be difficult, and our priority is

Brazil's Nu Holdings has received conditional approval from the Office of the Comptroller of the Currency for a national bank charter. The proposed Nubank plans to offer deposit accounts, credit cards, loans and digital asset custody. “This approval isn't just an expansion of our operation; it’s an opportunity to prove our thesis that a digital-first, customer-centric model is the future of financial services globally," David Vélez, Nu Holdings' CEO, said in

Oregon Pacific Bancorp in Florence, Ore., will end 2026 with a new CEO. The company said in a press release that Amber White had become its president, succeeding Ron Green. White, the bank's chief financial officer, will become CEO when Green retires later this year. Oregon Pacific has begun a search to find a new CFO. “I am very proud of the Bank’s accomplishments over the past 19 years and

First Northwest Bancorp in Port Angeles, Wash., will close its branch in Bellevue, Wash., at the end of April. The $2.1 billion-asset company said in a press release that it inherited the branch when it bought Sterling Bank and Trust in July 2021. The closure will save the company $900,000 annually. "Customer preferences continue to evolve, and we are seeing that, for this location, the use of online and mobile

ConnectOne Bancorp in Englewood Cliffs, N.J., plans to close five branches. The $14 billion-asset said in a press release that it will shutter the locations in the first quarter. ConnectOne incurred nearly $1.3 million in expenses in the quarter tied to the planned closures.