Shares of Butterfield Bank surged 2.6 percent in Bermuda Stock Exchange trading today to hit their highest level since August 2011.

Butterfield rose four cents to $1.56, leaving shareholders who bought when the stock briefly slipped below $1 in April 2012 sitting on a paper gain of more than 50 percent in 22 months.

More than 105,000 Butterfield common shares changed hands on a day when the bank was the only domestic-board stock to trade.

The Royal Gazette/BSX Index rose 18.88 points, or 1.58 percent, to close on 1,213.91 as 105,400 shares traded with a total value of $164,324.

The BSX Insurance Index reflected a miserable down day on Wall Street, falling 25.19 points, or 1.82 percent, to close on 1,355.69.