A Public Bank is a financial institution owned and operated by the government, typically at the state or local level. Its primary purpose is to serve the public interest by providing affordable banking services, supporting local economies, and funding public projects. Unlike private banks, which focus on profit, public banks aim to reinvest profits back into the community. Public banks can offer lower interest rates on loans and higher interest rates on savings, making banking more accessible for individuals and businesses. They often prioritize funding for infrastructure, education, and sustainable development, contributing to the overall economic well-being of the community they serve.