Columbia Savings & Loan Assn. posted record...

Columbia Savings & Loan Assn. posted record earnings of $98 million for the first quarter ended March 31. That represented a 27% increase over the same 1986 period. Commented Thomas Spiegel, president and chief executive: “Our regulatory capital is already well in excess of the recently adopted federal requirement of 6% . . . We also made one of the largest single sales of Government National Mortgage Assn. securities in Wall Street history.” Columbia, a California-chartered savings and loan association with assets of $9.7 billion, has executive offices in Beverly Hills and administrative offices in Irvine. Columbia operates 20 savings branches in Southern California and 17 lending offices throughout the state.