American Savings Bank said Tuesday its net income for the second quarter was up 12 percent to $15.9 million, compared to $14.2 million in the second quarter of 2012.

“American delivered solid results in the second quarter as good loan growth helped us offset the continued pressure of the low interest rate environment,” said Richard Wacker, the bank’s president and CEO. “We experienced very low credit costs in the quarter thanks to good risk management systems and the positive trends in the Hawaii economy.”

The bank said the increase in net income was also due to the planned third quarter sale of its credit card portfolio and gains on sales of investment securities.

American Savings Bank is a subsidiary of Hawaiian Electric Industries.