Shares of Butterfield Bank dropped by $1, or 2.2 per cent, to $45 after 2,000 were traded on The Royal Gazette/BSX Index.

On the New York Stock Exchange the bank’s shares were down 85 cents, or 1.87 per cent, at $44.59.

The Royal Gazette/BSX Index was down 44.98 points, or 1.74 per cent, at 2,534.21.

The BSX Insurance Index was down 5.8 points, or 0.31 per cent, at 1,885.43.