Raisin, Lewis And Clark and FDIC

Raisin deposits your money in a custodial account at Lewis And Clark Bank.
So if you have $250.000 deposited in each of three of their institutions, Is it still covered by FDIC?

It should be noted that Raisin and other fintechs brag about FDIC insurance but fail to mention that it only covers you if the bank becomes insolvent. It does not cover losses caused by any sort of hacking or identity theft.