Columbia Savings & Loan in Beverly Hills...

Columbia Savings & Loan in Beverly Hills earned $119 million last year, 38% less than it earned in 1986, the company said. The financial institution said it lost $34.8 million in the fourth quarter, largely because of last October’s stock market crash. The S&L;, one of the few thrifts in the country that invests in equity securities, had previously announced that it expected a loss of $25 million in the fourth quarter. Columbia Savings has $11.3 billion in assets and 20 retail branch offices in Southern California.