Ohana Pacific Bank’s earnings soared 52.7 percent in the third quarter on double-digit loan growth and a solid increase in deposits.

The Honolulu-based bank said Wednesday that its net income rose to $371,000 from $243,000 in the year-earlier period. Loans increased 13.3 percent to $123.7 million while deposits gained 6.7 percent to $134.8 million. Assets gained 6.6 percent to $153 million.

“Our excellent performance was driven by good loan growth while maintaining a good credit quality,” Ohana Pacific President and CEO James Hong said. “The bank’s certificate of deposit growth is strong due to a very competitive rate we currently offer. Our Kalihi branch deposit doubled to $16.7 million as of Sept. 30 from $8.4 million (in the year-earlier quarter).”

The bank’s net interest income, which is the difference between how much Ohana Pacific pays for deposits compared with what it charges to lend out money, increased 10.2 percent to $1.4 million. Ohana Pacific’s net interest margin increased to 3.61 percent from 3.54 percent. The bank’s noninterest income, which includes service charges and fees, gained 17.9 percent to $99,000.

Ohana Pacific’s stock closed unchanged Wednesday at $7.92 and did not trade on Thursday.

THIRD-QUARTER NET

$371,000

YEAR-EARLIER NET

$243,000