Columbia Savings & Loan Assn. reported fourth-quarter...

Columbia Savings & Loan Assn. reported fourth-quarter earnings of $16 million, contrasted with a loss of $34.8 million in the year-ago quarter when the firm sustained losses in the stock market crash. For the year, the Beverly Hills-based thrift’s net income dropped 46% from 1987 to $65 million. The firm noted that net interest income for the year increased 35% to $218.5 million and was up 30% to $61 million for the quarter.

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