Butterfield Bank’s continuing surge drove The Royal Gazette/Bermuda Stock Exchange Index higher last week.

The bank closed on Friday, having risen by six cents, or three percent, to close on Friday at $2.05, the first time in four years that its share price had closed above $2.

The Index gained 25.81 points, or 1.78 percent, to reach 1,445.22 during the five days of trading.

The bank has been on a roll since last month’s release of full-year results, which showed that profits tripled and the bank announced a special dividend to go with the regular quarterly dividend. Since then the stock price has surged more than 12 percent.

Last week, 468,831 of the bank’s shares traded.

The other stock to gain was Argus Group Holdings Ltd, which added nine cents, or 2.2 percent, to close on $4.10 on the trading of 3,800 shares.

Rival insurer BF&M Ltd went in the other direction, falling 60 cents, or 3.5 percent, to close on $16.65.

Ascendant Group remained unchanged at $10, as 20,000 of its shares changed hands.