Bank of Hawaii Corp. said Monday its earnings jumped 10 percent in the first quarter on strong lending growth and the sale of 95,000 Visa Class B shares.

The state’s second-largest bank posted net income of $42.4 million, or 97 cents a share, compared with $38.6 million, or 87 cents a share.

Bankoh’s loans soared 15.6 percent to $7.2 billion from $6.2 billion in the year-ago period. The bank also realized a net gain of $10.1 million from Visa stock compared with $2 million in the year-earlier period.

Peter Ho, chairman, president and CEO of Bankoh, said the large amount of the Visa stock sale was due to a minimum transaction requirement but that he does not anticipate further shares of Visa shares this year.