Shares of Butterfield Bank were up 75 cents, or 1.6 per cent, at $48 after 5,465 traded on The Royal Gazette/BSX index.

On the New York Stock Exchange, the bank’s shares were up 13 cents, or 0.27 per cent, at $48.28.

The Royal Gazette/BSX Index was up 33.73 points, or 1.25 per cent, at 2,729.38.

The BSX Insurance Index was up 12.07 points, or 0.67 per cent, at 1,826.5.

In separate news, Ascendant Group, the parent of Belco, reported that it repurchased 35,400 of its Bermuda Stock Exchange-listed common shares, at an average price of $15, last month. The repurchased shares have been reserved for issuance.