Are you an owner of the money in your bank account? 

Legally, no. 

You're a claimant.

In the 1960s a supreme court ruling determined this. You are just one of the people with a claim to those funds, and you're not first in line. This is how fractional reserve works. FDIC also operates with 1% of the necessary funds to cover all deposits it is supposed to be ready to protect. 

Currently calling with a financial advisor who I was introduced to explaining this (I call a few though I don't have much money who help me out with free advice, super grateful for it)