RTC Sells 4 Commercial Properties in O.C. : Auction: The federal agency will collect $19 million for sale including two bank branches and two office buildings.

Two bank branches and two office buildings in Orange County were among 34 commercial properties sold at an auction last week by the federal agency charged with disposing of the assets of failed thrifts.

The Resolution Trust Corp. stands to collect $19 million from the sales of the commercial properties once escrows close in 30 days, said Frederick D. Smith, sales director for RTC’s California office in Newport Beach. The proceeds account for 79% of the total appraised value on the properties of $24 million.

The names of the winning bidders at the auction, held Thursday in Burbank, were not disclosed.

Among the properties sold were the former Costa Mesa branch of defunct Pacific Savings Bank, a Costa Mesa thrift, and the former Santa Ana branch of failed Santa Barbara Savings & Loan. The Pacific Savings branch, which was listed at $850,000, was sold for $760,000. The Santa Barbara Savings branch, valued at $500,000, was sold for $370,000.

The agency also sold an office building in Fullerton for $365,000 and one in Santa Ana for $800,000. Old appraisals had valued those buildings at $766,000 and $1.2 million, respectively, Smith said.

In addition, the agency sold seven vacant parcels of land. The total price was not available on Friday.

Besides holding an auction on the properties, the agency also sold $416 million worth of bad loans from failed thrifts nationwide for about $240 million at an auction Wednesday in Los Angeles. About half the loans came from failed California thrifts, Smith said.