Each depositor insured to at least $250,000 per insured bank

1. Introduction
2. Press Release
3. Acquiring Financial Institution
4. Priority of Claims
5. Dividend Information
6. Receivership Termination

On February 2, 2007, Metropolitan Savings Bank, Pittsburgh, PA was closed by the State of Pennsylvania, Department of Banking, and the Federal Deposit Insurance Corporation (FDIC) was named Receiver. As Receiver, the FDIC is charged with winding up the business affairs of the failed financial institution. This includes the disposition of assets and liabilities of the failed financial institution and payment of dividends to approved creditors in order of priority.

The FDIC, as Receiver, as taken all necessary actions to conclude the affairs of the failed financial institution, made all dividend distributions as required by law and the receivership estate is deemed terminated.

The FDIC has issued a press release  (PR-9-2007) about the institution’s closure.  If you represent a media outlet and would like information about the closure, please contact  David Barr at 202-898-6992.

All insured deposit accounts have been transferred to Allegheny Valley Bank of Pittsburgh, PA ("assuming institution") and will be available immediately. Your bank will re-open during regular business hours at the former Metropolitan Savings Bank.

You may contact Allegheny Valley Bank of Pittsburgh at:

Allegheny Valley Bank of Pittsburgh
5137 Butler Street
Pittsburgh, PA 15201

In accordance with Federal law, allowed claims will be paid, after administrative expenses, in the following order of priority:

The FDIC as Receiver for the Metropolitan Savings Bank has taken all actions necessary to terminate the Receivership Estate.

The Receiver published a legal notice of intent to terminate the receivership on September 15, 2011.

The Receiver has made all dividend distributions required by law.

Effective May 17, 2012, the Receivership Estate has been terminated, the Receiver was discharged and the Receivership Estate ceased existence as a legal entity.