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BOSTON PRIVATE BANCORP, INC. COMPLETES STOCK OFFERING; $8.2 MILLION RAISED

 BOSTON, Nov. 22 /PRNewswire/ -- Boston Private Bancorp, Inc. (OTC Bulletin Board: BPBC) today announced the successful completion of a stock offering in which the company raised $8.2 million. Boston Private Bancorp, Inc. is the parent company of Boston Private Bank & Trust Company.
 A total of 2.99 million shares of common stock were offered at $2.75 per share. The offering consisted of a rights offering to existing shareholders and a public offering. The company raised $3.6 million in the rights offering and $4.6 million in the public offering.
 The public offering was managed by Legg Mason Wood Walker, Inc., Baltimore, Md.
 Net proceeds from both offerings will be used for general corporate purposes and to support the company's strategic growth plans. The assets of the bank, as of Sept. 30, 1993 were $90,588,000.
 Boston Private Bank & Trust Company, founded in 1987, specializes in providing private banking and investment services to individuals and their families as well as businesses. The bank offers a full range of banking and investment services to its domestic and international clients and emphasizes very high quality levels of personal service.
 The bank is headquartered at One Winthrop Square in Boston's financial district.
 -0- 11/22/93
 /CONTACT: Timothy L. Vaill, president and chief executive officer of Boston Private Bank & Trust Company, 617-556-1902/
 (BPBC)


CO: Boston Private Bank & Trust Company ST: Massachusetts IN: FIN SU: OFR

DJ-CM -- NE011 -- 4640 11/22/93 12:48 EST
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Publication:PR Newswire
Date:Nov 22, 1993
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