Having been the victim of identity theft myself, you have my sympathies. Unfortunately, you have a long road ahead of you to repair your name and credit.
When considering a lawsuit, the question comes down to whether you have been damaged by the actions of the bank. If the bank is willing to work with you, you probably don't have a case. Because litigation is expensive and generally unsatisfying, I hope that you are able to resolve the issues with your bank.
Be sure to get a police report of the identity theft (be persistant - not all police precincts are willing to file reports) and get copies of your credit reports from the three credit agencies. Because you are a victim of identity theft, they should be provided free of charge. Then, put a fraud alert on your credit and freeze your credit accounts if you are able to do so. You will need to close any accounts that you did not open and file affidavits with each company showing that you did not open the account.
This is not intended as legal advice and should only be used for informational purposes only. You should never believe any information that you receive on the internet, especially information that is probably being provided in the late evening hours when I should be sleeping.