Bank of America, Citigroup and JPMorgan Chase all bested analysts' expectations by significant margins for the first quarter. But few think that Bank of America and Citigroup have put their woes behind them. One concern that's attracting more attention: Loan-loss reserves. All have boosted reserves but the issue is whether they have done so enough. JPMorgan appears to be the best positioned.

Fortune notes JPMorgan's loss reserves at the end of the quarter stood at 241 percent of nonperforming assets, down from 271 percent a year ago. Wells Fargo's reserves were 255 percent of nonperforming assets, up from 134% a year earlier. In contrast, Bank of America's loan loss reserves stood at 121 percent, down from 203 percent a year ago. Citigroup's reserves also stood at 121 percent, down from 171 percent. In fairness, they may all need to boost significantly. 

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