American Savings Bank posted a 12.3 percent increase in third-quarter net income powered by double-digit deposit growth and a moderate gain in loans from the year-earlier period.

The state’s third-largest bank said today that earnings rose to $15.1 million from $13.5 million. Deposits jumped 12 percent to $5.38 billion while loans grew 4 percent to $4.73 billion.

American Savings reported its earnings ahead of parent company Hawaiian Electric Industries Inc., which will release its financial results on Nov. 4. HEI’s stock closed up 5 cents today at $29.08.

The bank’s earnings were announced after the market closed.