Butterfield Bank shares surged 4.6 per cent in Bermuda Stock Exchange trading — but they still have some distance to go before they catch up with the bank’s New York-listed shares.

On the BSX, Butterfield jumped $2 on the trading of 229 shares to close the week on $45.50.

The Royal Gazette/BSX Index, of which Butterfield is by far the biggest component, gained 89.95 points, or 3.64 per cent, on the strength of the bank’s trade alone. The index closed at 2,561.75.

On the New York Stock Exchange, Butterfield’s US-listed shares gained $1.54, or 3.4 per cent, to close on $46.96 on its ex-dividend day.

The BSX Insurance Index was also up, adding 8.62 points, or 0.46 per cent, to close on 1,866.61.