JPMorgan Chase, a Wall Street leader, naturally was the first to report its 2012 first quarter results.  They didn't disappoint, handily beating analyst estimates.  JPMorgan, which holds the most assets of any bank in the country, reported Friday that it issued more mortgage loans in the first 3 months of the year and turned a bigger profit than Wall Street expected. Earnings were $5.4 billion, or $1.31 per share, versus analyst estimates of $1.16 per share.  Revenue and profit declined at most of JPMorgan's businesses, including investment banking.  And, compared to the same period for 2011, this year's quarterly earnings are down 3%, while revenue is up 6%.  As the largest bank, JPMorgan is a barometer of the economy and the financial industry.  It is also the first major bank to report its results for the first quarter. Specific Numbers for the Bank. Customer payments of credit card bills and mortgage loans was positive, as JPM reported that customers continued to pay  on time.  The bank was able to pick up $1.8 billion from the reserves it had set aside to cover loan losses.   JPMorgan Chase also gained $1.1 billion from a settlement related to WaMu, the failed bank that JPMorgan bought during the depths of the 2008 financial crisis. JPMorgan Investment Bank Results. Revenue at the investment bank was $7.3 billion, vs. $8.2 billion.  Fees fell 23% to $1.4 billion.  Though JPMorgan ranked first in investment banking fees globally in the 1st quarter, both revenue and income fell, reflecting turbulence in the markets because of fears that Greece might default on its debt.  The stock market rallied in the first 3months - its best since 1998 - but trading volume was low as many investors, particularly individuals, are still staying away. For further details, go to:  [Associated Press, 4/13/12].