The first bank failure of 2026
Good morning, Chicago. ✶
???? Below: Two teen brothers from West Chicago have spent the last few weeks documenting federal agents in Minneapolis. We learn about what they've seen and why they're there.
????️ Plus: Metropolitan Capital Bank & Trust fails, a longtime lobbyist considers challenging Mayor Brandon Johnson, and more news you need to know.
???? Keeping score: The Bulls lost to the Heat, 134-91.
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⏱️: An 8-minute read
TODAY’S WEATHER ????️
Mostly cloudy with a chance of flurries and a high near 30.
TODAY’S TOP STORY ????
West Chicago teens go on ICE watch in Minneapolis
By Mary Norkol and Anna Savchenko
Documenting the feds: A day after a federal immigration agent fatally shot Renee Macklin Good on Jan. 7, 17-year-old Ben Luhmann and his 16-year-old brother Sam drove from their West Chicago home to Minneapolis with the goal of documenting agents' actions. The Luhmann brothers often show up at protest sites and trail immigration agents' vehicles.
What they've seen: The brothers have gathered footage of top U.S. Border Patrol official Gregory Bovino throwing a tear gas canister into a crowd, immigration agents slipping and falling on ice, and an agent pepper-spraying a man inches from his face while other agents pin him to the ground.
Their motivation: Some of their clips — they upload all footage to a publicly accessible Google Drive folder — have gone viral. The brothers, born in Minneapolis and now home-schooled, said it was an easy decision to throw themselves into situations that have left immigrant communities traumatized and scared. The way they see it, they’re helping neighbors, and they’re heartened by watching others do the same.
Key quote: "I think that level of empathy and that level of care is like the peak of humanity, and the peak of who we could be as a people," Ben said.
MORE ON IMMIGRATION ✶
- Friday protest: Hundreds of people protested Friday in the Loop, expressing outrage with federal immigration enforcement and worries of an expected spring surge of agents in the Chicago area.
- New footage: Adam Saracco, an off-duty immigration enforcement officer, admitted to shoving a 68-year-old protester to the ground to stop him from filming him at a suburban gas station, according to newly released body camera footage obtained by the Sun-Times.
- Mayor orders investigation: Mayor Brandon Johnson signed an executive order Saturday ordering Chicago police to investigate alleged abuses by federal immigration agents for potential felony prosecution.
MONEY ????
Chicago bank fails, becoming first in nation to go under in 2026
By Cindy Hernandez
First of 2026: State regulators closed Metropolitan Capital Bank & Trust on Friday, marking the first bank failure in the United States in 2026. The Illinois Department of Financial and Professional Regulation ordered the River North-based bank’s closure due to concerns over its financial stability.
Key point: The Federal Deposit Insurance Corporation was named receiver and brokered the sale of most of the bank’s $261 million in assets to First Independence Bank in Detroit, including all deposits. Customers still have immediate access to their money, and loan customers’ payments are still due.
Key context: Only two banks tanked nationwide last year — including Chicago’s Pulaski Savings Bank.
ELECTIONS ☑️
Pritzker gives $5 million to boost Lt. Gov. Juliana Stratton’s Senate bid
By Tina Sfondeles
Friendly boost: Gov. JB Pritzker has given $5 million to a super PAC supporting his longtime running mate, Lt. Gov. Juliana Stratton, in her bid for the U.S. Senate, answering critics who questioned whether he would help boost her candidacy financially.
PAC man: The self-funding billionaire governor is the top contributor to the Illinois Future PAC, which Stratton’s opponent, U.S. Rep. Raja Krishnamoorthi, has tried to label a "dark-money" group. A Federal Election Commission report filed Saturday shows the political action committee’s contributions; it reported raising $6.3 million through the end of 2025.
Key context: As the run-up to the March 17 primary continues, Krishnamoorthi, Stratton and U.S. Rep. Robin Kelly are now airing ads in the race for the open seat now held by Sen. Dick Durbin, who is retiring after five terms.
MORE NEWS YOU NEED ????️
- Restaurant wages complaint: The Illinois Department of Labor filed a complaint against Gino and Marty’s, alleging the now-shuttered restaurant owes former employees more than $20,000 for unpaid or underpaid wages.
- Teacher accused of abuse: Brett J. Smith, a teacher with a long record of child molestation charges and convictions who was fired earlier this month by the Archdiocese of Chicago, allegedly sexually abused a 9-year-old boy he recently was tutoring in Orland Park, prosecutors said Friday.
- Anti-trafficking training: More than 100 hotel employees met Downtown on Friday to take part in "life-saving" training to identify ways to prevent human trafficking.
- Ex-mayor spared: A federal judge reversed course Friday and barred former Mayor Rahm Emanuel from being called as a witness in a civil trial over accusations of police misconduct.
- Remembering Catherine O’Hara: The Canadian actress got her start in 1974 in the Toronto company of Chicago-based Second City, and has since inspired a generation of comedians — a key part of her legacy, local performers say. She died Friday at age 71.
- ‘Melania’ premieres: A critically panned Melania Trump documentary opened this weekend with reportedly strong ticket sales nationwide, but in the Chicago region, its Friday premiere attracted small crowds.
- Vote to name snowplows: The Chicago Department of Streets and Sanitation released the list of 25 finalists, which were pulled from more than 13,300 entries. "Abolish ICE," "Caleb Chilliams" and "Mueve La Nieve" are among the finalists.
POLITICS ✶
Longtime lobbyist who solicits City Hall for powerful clients weighs mayoral run
By Robert Herguth
Meet John Kelly: One of Mayor Brandon Johnson's challengers in the 2027 mayoral election could be longtime lobbyist John Kelly. If elected, Kelly would have to deal with a significant list of potential conflicts of interest — largely because a number of his existing lobbying clients intersect with City Hall.
Potential conflicts: Among the potential conflicts of interest are the White Sox and the Reinsdorf family, who own the Sox and the Bulls; United Airlines; the United Center; and Bally's. Kelly said he’d handle possible conflicts by separating himself from his lobbying business, called All-Circo Inc., though it’s unclear whether he would do so during the race or only if he wins.
Key context: Lobbyists are part of the sometimes seedy underbelly of local, state and federal government, advocating on behalf of special interests that often cynically throw campaign money at political figures. Kelly says he performs his job honestly and won’t shy away from his background.
FROM THE PRESS BOX ????????
- Sky owner sued: Sky majority owner Michael Alter is being sued by one of his minority partners, who alleges Alter enriched himself at the expense of minority investors during a period of rapidly rising franchise valuations.
- Power play problems: For the Blackhawks' struggling power play, more practice isn't necessarily a solution, writes Ben Pope.
- Bulls build: Bulls executive Arturas Karnisovas is willing to move on trades, Joe Cowley writes, but will he get them done?
- Girls basketball: Nazareth rises to the top spot in Kyle Williams' Super 25 high school girls basketball rankings for Feb. 1.
- Boys basketball: Lockport, Leo and Stevenson join the rankings in Michael O'Brien's Super 25 high school basketball rankings for Feb. 1.
CHICAGO MINI CROSSWORD ????
Today's clue: 2D: Caleb Williams or Colston Loveland, e.g.
BRIGHT ONE ????
Blues guitarist Ivan Singh has found his place in Chicago
By Selena Fragassi
Ever since he was a child, raised in Cordoba, Argentina, on a soundtrack of Buddy Guy and Howlin’ Wolf, Ivan Singh, 33, had his sights set on the blues capital of Chicago.
"It was like a Disney dream to come to Chicago," the now acclaimed musician Singh said. "I felt like it was a university to come to and learn from the masters and then try to figure out my own path."
Singh made his first trip as a fan in 2017 after hearing about the globally recognized Chicago Blues Festival, paying for it with money he saved from teaching guitar lessons in South America, and was soon immersed in the scene.
"The blues community was so nice to me when I first came here," Singh recalled, expressing gratitude for luminaries and early allies like Rosa’s Lounge owner Tony Mangiullo and Buddy Guy. They were intrigued by what Singh was dishing out a unique blend of Latin blues sung in Spanglish and played on a homemade guitar he calls the "Lata de Batata" — "can of sweet potatoes" — and offered invitations to take the stage and jam.
Nowadays, Singh has amplified his arsenal and works with Gibson Guitars, wielding the instrument to create his unique music style — rounded out by a six-piece band and horn section — that offers a kaleidoscopic mirage of his learned experience.
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Written and curated by: Matt Moore
Editor: Eydie Cubarrubia
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