When JPMorgan Chase posts earnings on Friday, Wall Street won’t just be looking at the results from the nation’s largest bank; it will also be considering the broader health of the sector. But it’s important to remember that JPMorgan is an outlier.

Bank stocks have been punished this year as rapidly rising interest rates have caused many problems for lenders. At first, banks could delight in the fact that higher rates allowed them to earn more interest on the loans they issue. But high rates also have the tendency to keep potential borrowers on the sidelines and pressure current borrowers into delinquencies. The jump in rates has also meant savers now have more options for where to park their nest eggs and earn yield, putting pressure on banks’ funding costs.