Enterprise Bancorp in Lowell raised $20 million in a recent stock offering.

The parent company of Enterprise Bank netted $19.7 million after offering expenses.

“We are extremely pleased with the results of the offerings, which due to strong investor demand were oversubscribed. We are very gratified with our shareholders’ and the community’s response and support. We believe that this new capital positions us well to maintain our history of strong organic growth and to seize strategic opportunities that may periodically arise,” CEO Jack Clancy said in a statement. “By raising capital from existing shareholders and throughout our communities, the ownership interest resides locally. We consider this to be a critical attribute of a genuine community bank.”

All 930,232 shares sold were priced at $21.50 per share. The offerings commenced on April 21, with the shareholder subscription rights offering expiring on May 27 and the supplemental community offering expiring on June 10. The bank expects to deliver the shares of common stock to shareholders later this week.