Updated from 2:19 p.m. EDTBank stocks traded mixed Thursday following JPMorgan Chase's ( JPM) better-than-expected earnings report. JPMorgan's first-quarter profit slipped 10% from a year ago, but earnings of $2.14 billion, or 40 cents a share, were better than analyst forecasts. The bank also recorded revenue of $26.9 billion, compared with the Thomson Reuters average estimate of $22.9 billion. It wasn't all good news for JPMorgan. Defaults are still rising -- credit costs amounted to $10.1 billion in the first quarter, up significantly from a year ago. But JPMorgan's investment bank pulled in a record profit of $1.6 billion on record revenue of $8.3 billion. A year earlier, before JPMorgan bought the nearly-collapsed investment bank Bear Stearns, that division posted a loss. JPMorgan shares finished up 2.1% to $33.24. Citigroup ( C), which posts its own earnings report tomorrow, climbed 1%. Bank of America ( BAC), which reports quarterly results Monday, gave back early gains and ended down 1%. Wells Fargo ( WFC) gave back 0.5%. Bank of New York Mellon ( BK) shares were dropping following the announcement by General Growth Properties ( GGP) that it will seek Chapter 11 bankruptcy protection. Bank of New York is listed among General Growth Properties' top regular creditors, with unsecured claims of$1.44 billion. Bank of New York fell 4.2% to close at $31.21. Wilmington Trust ( WL), which was listed in the bankruptcy filing as a creditor, said Thursday afternoon that it is not a direct holder of debt issued by any GGP entity. Shares bounced from a low of $10.25 and rose 2.5% to $11.03. Shares of American International Group ( AIG) were trading higher after the insurer said it would unload its auto insurance unit to rival Zurich Financial Services for $1.9 billion.