California community bankers are dismissing as simplistic a report by the Federal Reserve Bank of San Francisco that blamed the early-1990s' community bank crisis in the state on economic conditions and an increase in commercial real estate lending.

A Jan. 19 study of 333 institutions with assets of less than $300 million highlighted those two factors as the primary causes of community bank woes in the state between 1990 and 1994. Dozens of small banks failed during that time.

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