JPMorgan Chase & Co., the second-biggest U.S. bank, said its profits rose 23 percent, more than analysts estimated, as provisions for losses on mortgages, credit cards and other consumer loans fell $5.8 billion, Bloomberg reported.

Third-quarter net income climbed to $4.42 billion, or $1.01 a share, from $3.59 billion, or 82 cents per share, in the same period a year earlier, the New York-based company said today in a statement.

Even as provisions for future losses dropped, the bank charged off $1.2 billion on its home-equity and other mortgage loans as the U.S. unemployment rate remained near a 26-year high. JPMorgan also took a $1.5 billion loss on bad loans it was forced to repurchase from investors.

“We expect mortgage credit losses to remain at these high levels for the next several quarters,” CEO Jamie Dimon said in the statement. “If economic conditions worsen, mortgage credit losses could trend higher.”

JPMorgan is the first of the largest U.S. banks to report earnings. Bank of America Corp. and Citigroup Inc., the largest and third-largest U.S. lenders by assets, respectively, may report adjusted earnings of $1.1 billion and $1.8 billion when they release results next week, a Bloomberg survey shows.

JPMorgan’s third-quarter revenues fell 11 percent to $23.8 billion. Fixed-income revenue was $3.1 billion, compared with $5 billion a year earlier and $3.6 billion in the second quarter.