Public: who holds your money
Public is not a bank. Public says customer money is held at BNY Mellon, National Association, Lake Forest Bank & Trust Company, National Association, Ally Bank, Libertyville Bank & Trust Company, National Association, Associated Bank, National Association and 19 more program banks, with insurance reaching customers as SIPC protection for securities, with cash swept to program banks. We read this information in the app's own public disclosure on September 5, 2026, and this page quotes that disclosure below. You can check each partner bank's own page on this site.
Public is not a chartered bank; customers’ securities and unswept cash remain at the broker, where SIPC protection applies. SIPC protects up to $500,000 per customer, including up to $250,000 for cash still held at the broker. Swept cash is spread across a network of 24 program banks and receives FDIC pass-through insurance at those banks. That insurance covers up to $250,000 per depositor, per bank, meaning coverage reaches you through each bank. Public’s disclosure was read September 5, 2026.
Partner banks
- BNY Mellon, National AssociationFDIC #7946 · sweep network53.7%above the insured limitC47.6
- Lake Forest Bank & Trust Company, National AssociationFDIC #27589 · sweep network48.7%above the insured limitC20.0
- Ally BankFDIC #57803 · sweep network10.4%above the insured limitA87.1
- Libertyville Bank & Trust Company, National AssociationFDIC #34073 · sweep network28.7%above the insured limitC20.0
- Associated Bank, National AssociationFDIC #5296 · sweep network49.0%above the insured limitF3.2
- Northbrook Bank and Trust Company, National AssociationFDIC #57082 · sweep network39.7%above the insured limitD11.2
- BankUnited, National AssociationFDIC #58979 · sweep network57.9%above the insured limitD12.7
- Old National BankFDIC #3832 · sweep network43.3%above the insured limitD5.6
- Belmont Bank & Trust CompanyFDIC #58165 · sweep network40.4%above the insured limitB66.3
- Schaumburg Bank & Trust Company, National AssociationFDIC #57103 · sweep network33.7%above the insured limitC35.3
- Burling BankFDIC #27556 · sweep network59.3%above the insured limitD17.1
- St. Charles Bank & Trust Company, National AssociationFDIC #27052 · sweep network31.2%above the insured limitC24.7
- Citibank, National AssociationFDIC #7213 · sweep network47.8%above the insured limitC48.4
- State Bank of the Lakes, National AssociationFDIC #5744 · sweep network20.5%above the insured limitC49.5
- Crystal Lake Bank and Trust Company, National AssociationFDIC #34681 · sweep network29.7%above the insured limitC31.8
- Town Bank, National AssociationFDIC #34717 · sweep network31.0%above the insured limitC34.7
- Customers BankFDIC #34444 · sweep network44.3%above the insured limitC23.8
- TriState Capital BankFDIC #58457 · sweep network38.3%above the insured limitB54.0
- East West BankFDIC #31628 · sweep network51.5%above the insured limitC33.7
- U.S. Bank National AssociationFDIC #6548 · sweep network52.2%above the insured limitF1.6
- EverBank, National AssociationFDIC #34775 · sweep network13.5%above the insured limitB56.3
- Village Bank and Trust, National AssociationFDIC #34011 · sweep network38.4%above the insured limitC28.7
- Flagstar Bank, National AssociationFDIC #32541 · sweep network28.9%above the insured limitC22.2
- Wintrust Bank, National AssociationFDIC #33935 · sweep network45.9%above the insured limitC33.9
The figure is the share of total bank deposits above the $250,000 federal insurance limit, reported quarterly to the FDIC. High shares are normal for banks holding large app program balances. They do not mean your balance is uninsured: pass-through insurance usually covers customers individually at the partner bank. Across US banks in 2022 to 2026, those above roughly 36% saw large quarterly total deposit declines more often than those below. Most banks above that level saw no such fall. This measures deposit movement and does not predict trouble for any bank.
Disclosure
Your cash may be allocated to any bank on the list at any point in time. You may not designate which banks on the PBL receive your funds. However, you may exclude any Participating Bank from holding your funds at any time by contacting your broker.
public.com · as of September 5, 2026
Apex Clearing participating bank list as of January 6, 2025, read from this page; 'Independent Bank' is omitted because the name matches several FDIC records.