If you’re looking at regional bank earnings you’ll be cheering, but if you’re looking at large investment banks you’ll be cringing, Rochdale Securities bank analyst Dick Bove told CNBC’s “ Closing Bell .”

Bove also isn’t too concerned about JPMorgan’s trading loss ahead of its earnings release on Friday. “If JPMorganloses $9 billion, pre-tax, on this trading situation, it will still only have 12 companies in the U.S. that make more money than it.” It can afford to take a hit of this nature, Bove said.

Wells Fargoreports earnings on Friday as well.

Bove also said these big banks are critical to growing the U.S. economy.

“If you take a look at the history of U.S. financial system going back to Alexander Hamilton, you’ll not find one period in which big banks are shrinking or big banks are being reduced in size that the economy is growing,” Bove said. “You’ll find multiple periods when big banks are growing and big banks are increasing in number that the economy is moving ahead.”

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