Canadian Western Bank today announced record quarterly earnings and revenues for the third quarter.

The bank said net income for the quarter ended July 31 was $24 million and diluted earnings per share of were 37¢, up 36% and 32% respectively over last year.

Strong quarterly earnings were driven by loan growth of 8% in the quarter

“The bank’s loan growth continued to surpass our expectations and we’re now in the final stretch to exceed all of our annual performance targets,” said Larry Pollock, President and CEO, in a release.

Revenues for the quarter were of $70.7 million, up 24%, and a new record, the bank said.

Return on equity for the quarter was 17.1%, up 290 basis points.

The ban’s efficiency ratio for the quarter was 43.6%, an improvement of 200 basis points.

Both of CWB’s operating segments performed well in the quarter, the bank said. Loan growth and strong other income drove quarterly banking and trust net income to a record $21.8 million.

The earnings contribution from insurance operations increased 16% over the same quarter last year to $2.2 million.

“Recent events in financial markets have had an insignificant impact on our operations. At CWB, it’s business as usual,” Pollock added.