Canadian Western Bank is reporting an 11% jump in earnings for the second quarter announced second quarter ended April 30.

The bank said net income was $9.8 million, up $1 million over the same quarter last year. Earnings per share an increase of 6% from 70¢ a year ago.

The increased earnings reflect 9% growth in total revenues from strong loan growth in the quarter, improved spreads and record other income.

Credit quality remained strong. The provision for credit losses was 25 basis points of average loans for the quarter and year-to-date, unchanged from previous periods

Loans increased by $122 million, or 3% over the first quarter to total $3.7 billion.

“We are pleased to deliver solid growth in earnings and revenue despite the low interest rate environment,” said Larry Pollock, president and CEO, in a news release.

“New loan deal flow is robust and we remain focused on achieving our 15th consecutive year of double-digit loan growth,” added Pollock.

The bank declared a quarterly dividend of 15¢ per common share, payable on July 6 to shareholders of record on June 17.