Territorial Bancorp Inc., holding company for the state’s fifth-largest bank, said that a surge of new loans helped boost earnings 11.3% in the fourth quarter.

Net income rose to 3.8 million, or 38 cents a share, to easily beat analysts’ consensus estimate of 34 cents. A year ago the bank earned 3.4 million, or 33 cents a share.

Territorial, which generates about 95 percent of its loans from residential mortgages, said loans receivable grew 12.6 percent at the end of last quarter to 774.9 million from 688.1 million in the same period a year ago.