NEW YORK ( TheStreet) -- The Federal Deposit Insurance Corp. is apparently tiring of getting taken to the cleaners when it sells failed banks.

The pop in the stock prices of banks that acquire failed competitors from the FDIC has been extraordinary to watch over the past year. The standout was East West Bancorp ( EWBC), which has practically doubled since it bought United Commercial Bank from the FDIC in November.

Several other banks, however, have seen benefits after picking up failed banks from the FDIC, ranging from giants like JPMorgan Chase ( JPM)and U.S. Bancorp ( USB) to tiny players that trade over the counter, such as Sunwest Bank (SWBC:OTC) in Tustin, Calif. Sunwest has bought two failed banks from the FDIC since September, and its stock was up more than 80% since then through Tuesday.

It is small wonder that Citigroup ( C) executives remain bitter at the FDIC for awarding Wachovia to Wells Fargo ( WFC).

But now the FDIC looks like it will finally start getting some of the upside, according to a report in the Wall Street Journal on Wednesday. The report says the FDIC has struck a deal with New York Community Bancorp ( NYB) to allow the regulator to participate in some of the gains that followed after it bought AmTrust Bank earlier this month. The article says the FDIC will now look to arrange similar deals with other acquirers.

The article says the FDIC made $23 million on the AmTrust sale which is better than nothing, but a pretty small fraction of the roughly $800 million gain in New York Community Bancorp's market cap.

If you liked this article you might like

SEC's Cyber-Gaffe Highlights Risk of Trump Budget Cuts at Agency

China's Banks Halt Business With North Korea Per United Nations Sanctions

Why Hurricanes Won't Force the Fed to Ditch a December Rate Hike

Fed Pares $4.5 Trillion Balance Sheet But Easy-Money Era Isn't Over

Bank Stocks Move Higher as Fed Decides to Start Unwinding Balance Sheet