JPMorgan Chase should put the botched “London Whale” trade behind it, as the bank has bigger worries to battle, such as how much money it can make from regular operations this year, says Dick Bove, a banking analyst at Rochdale Securities.

JPMorgan Chase reported second-quarter net income of $4.96 billion, or $1.21 a share, compared with $5.43 billion, or $1.27 a share during the same period a year earlier.

The botched trade at the bank's London-based Chief Investment Office, carried out by Bruno Iksil, known as the "The London Whale," cost the bank $4.4 billion in trading losses during the second quarter alone.

Look past that, Bove says, as the bank has bigger fish to fry.

"The core issue should be how much money can this company make from its operations. And I think in the second half of this year, it’s not going to make that much money," Bove tells CNBC.

The London Whale losses may get bigger but profits could result down the road.

"There’s a good chance that you may actually see a profit coming out of the residuals from this trade," Bove adds.

The London Whale losses for the entire year so far have risen to $5.8 billion, and some experts see criminal charges likely should investigators find evidence JPMorgan traders tried to cover up the losses initially.

"I see little doubt that someone is going to get charged with fraud," says Bill Singer, a lawyer at Herskovits in New York who provides legal counsel to securities industry firms, according to Reuters.

The FBI and the U.S. Securities and Exchange Commission are reportedly probing the bank, and the SEC could charge JPMorgan with weaknesses in oversight and internal controls, other experts says.

"I think the SEC will continue to look at 'What exactly did Jamie Dimon know and when did he know it?'" says James Cox, a securities law expert at Duke University, Reuters adds.