Even though last week was a short one for the Bermuda Stock Exchange, the index nevertheless posted disappointing declines. The index finished on Wednesday at 2,579.51, more than 92 points or 3.58 percent below its value on Monday morning.

Volume for the week was low, however, with only 34,374 shares worth $1.19 million changing hands.

Much of the decline was driven by the Bank of Bermuda, which fell $3 during the three-day period to $48.50. Last week, the bank announced that it had agreed to a $67 million settlement with investors who claim they were defrauded by a scheme facilitated by the bank.

Argus Insurance Co. Ltd. also fell $3, and finished the week at $22. BF&M, its competitor, lost half a point and ended at $8.

The Bank of Butterfield gained half a point during the week and ended at $33 on Wednesday. BELCO Holdings Ltd. and KeyTech also rose. The shares gained half a point and 45 cents, respectively.