The Bank of Butterfield rose to a new 52-week high on The Royal Gazette/BSX Index.

On August 4 the bank announced it had filed for a proposed IPO in the US. Today its shares hit $2.05, up 10 cents, or 5.1 per cent after 41,118 shares traded. Butterfield’s 52-week high had been $2.

In a filing with the BSX, the bank announced that Wendall Brown had resigned from the board of directors, effective from August 4.

Insurance firm BF&M was also up, rising 4 cents, or 0.2 per cent, at $17.15 after 300 shares moved.

The BSX Insurance Index ended the day down 3.26 points, or 0.20 per cent, at 1,649.88.