US banking giant JPMorgan Chase reported a 7.2 percent drop in fourth-quarter earnings Tuesday as it seeks to move past a regulatory onslaught in an improving US economy. JPMorgan, the largest American bank, said earnings were $5.3 billion on revenues of $23.16 billion, down from $5.7 billion on revenues of $23.65 billion in the year-ago period. The results included another charge related to legal settlements. The results translated into $1.30 cents per share compared with analyst expectations for $1.35 per share. On the positive side, the results returned JPMorgan to profitability after a rare loss in the third quarter when a $9.15 billion charge on legal expenses left the company with a rare quarterly loss. JPMorgan has spent about $20 billion on settlements with US regulators since the beginning of 2013. JPMorgan's chief executive Jamie Dimon said the giant bank has made significant headway with government regulators following multiple enforcement actions on everything from its sale of mortgage-backed securities ahead of the financial crisis to its trading of electricity contracts. "It was in the best interests of our company and shareholders for us to accept responsibility, resolve these issues and move forward," Dimon said. "This will allow us to focus on what we are here for: serving our clients and communities around the world." The results included another charge for legal expenses, this time for $1.1 billion, including for settlements announced last week with the Department of Justice related to poor oversight of accounts by convicted fraudster Bernard Madoff. Earnings for corporate and investment banking dipped to $858 million from $2.0 billion, in part due to an accounting change on some derivatives and structured notes. Dimon said he is "increasingly optimistic about the future of the US economy" and that the bank planned to continue to support the recovery.