Butterfield Bank's preference shares dropped $25 (two percent) on The Bermuda Stock Exchange (BSX) yesterday.

A total of 103 shares were traded as the stock closed at $1,225 per share.

The bank's common shares also fell five cents (one percent) to $4.95, as 1,100 shares changed hands.

The only other trader was KeyTech Ltd., which transacted 1,000 shares, but its share price held firm at $9.

Overall the Index slipped 8.74 points (0.37 percent) to 2,323.99, with 2,100 shares worth BD$14,445 and 103 shares worth $127,038.44 traded.

The BSX Insurance Index was also down 1.29 points (0.13 percent) at 972.88.