DRACUT — Enterprise Bank has purchased a multi-tenant commercial building that houses the bank’s Dracut office.

The building at 1168 Lakeview Ave. cost the company $1 million, according to the Middlesex North Registry of Deeds.

“It became available for sale and it’s been a great location for us. It’s been a great branch,” said Steven Larochelle, executive vice president and chief banking officer of Enterprise Bank. “It was a nice opportunity to acquire the property and lock down our commitment to a new location and to the community of Dracut.”

The purchase was announced Feb. 28 by Larochelle, Chief Executive Officer Jack Clancy, and Regional Manager Meredith Boumil-Flynn.

“As we prepare to celebrate our 20th anniversary in Dracut, the purchase of the building demonstrates our long-term commitment to the Town of Dracut and our many loyal customers,” Boumil-Flynn said in a written statement. “While we continue to see tremendous growth in the area of mobile and electronic banking, the branch is central to the relationships that we have with our customers. Branches remain particularly important to businesses and for those seeking consultative advice.”

Larochelle said there are plans to improve the building, but there are no concrete plans for major changes.

“All the tenants are in place, everything is fine,” he added. “At this point in time, it’s really more keeping it fresh and as updated as we can.”

Enterprise Bank has 23 full-service branch offices in Massachusetts and plans on opening a new branch location in Windham, N.H., later this year, according to the release.

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