Federal Deposit Insurance Corporation (FDIC) Chair Sheila Bair. (AP Photo/Haraz N. Ghanbari, file)

Community banks will survive in the new financial environment, the Federal Deposit Insurance Corp.'s chairman said here today.

"We're very determined on that score," said FDIC chief Sheila Bair while addressing a Chattanooga Women's Leadership Institute meeting.

She said she strongly feels it's in the public's interest to have diversity and choices of their banking relationship and a lot of people want to do business with community banks.

"It's our obligation to make sure that sector is vibrant and competitive," Bair said.

For full story, see Friday's Times Free Press.