Butterfield Bank shares plunged another five percent yesterday to continue the bank's dismal year on The Royal Gazette / Bermuda Stock Exchange.

Butterfield fell 40 cents to $7.50, as 9.954 shares traded. The bank has lost 28.2 percent of its market value this year.

As the biggest domestic company listed on the exchange, the bank has been a drag on the BSX Index, which yesterday fell 2.4 percent to hit its lowest level since December 2003.

The BSX lost 69.89 points to close on 2,844.91. The Index has now fallen about 46 percent from its 52-week high of 5,285.52 on March 5 last year.

There was also tarding activity around insurer Argus Group Holdings Ltd., which held steady at $8 as 3,857 shares changed hands.

BSX volume was 13,811 shares and turnover was $107,629.