JPMorgan Chase on Wednesday posted record quarterly and annual earnings and revenue, reinforcing the company’s status as the biggest and most profitable bank in U.S. history.

Big bank profits surged in the fourth quarter and Wall Street roared back to life, with net income rising 50% at JPMorgan Chase and more than doubling at Goldman Sachs.

JPMorgan’s net income soared 50% to more than $14 billion in the fourth quarter as the bank’s profit and revenue easily beat Wall Street forecasts, and other major banks reported banner earnings for t