Butterfield Bank shares fell 3.2 percent on the Bermuda Stock Exchange yesterday as the local stock market closed lower.The bank fell four cents to close on $1.21, as 13,500 shares traded.BF&M pared the gains it made last week, falling 99 cents, or 6.6 percent, to close the day on $14.01, as 400 shares were exchanged.The Royal Gazette / BSX Index fell 26.04 points, or 2.27 percent, to 1,118.78. Share volume was 13,900 and turnover was just shy of $22,000.The BSX Insurance Index closed five points higher, a rise of 0.47 percent, to 1,053.