In Brief: First Ipswich Raises $3.9M

First Ipswich Bancorp has completed a stock offering that began May 13, raising $3.9 million.

The $330 million-asset Massachusetts company said Thursday that it sold 300,000 shares at $13 each, primarily to employees and members of the community who were not previously shareholders. It plans to use the proceeds to acquire a registered investment advisory firm and to open additional branches, including one in Portsmouth, N.H., this fall.

First Ipswich is the parent of the 112-year-old First National Bank of Ipswich, which has 12 branches in Massachusetts and New Hampshire.