Codorus Valley Bancorp, Inc. Reports First Quarter 2024 Results

YORK, Pa., April 25, 2024 (GLOBE NEWSWIRE) -- Codorus Valley Bancorp, Inc. (the “Corporation”) (NASDAQ: CVLY), parent company of PeoplesBank, A Codorus Valley Company (“PeoplesBank”, or the “Bank”), today reported net income of $4.3 million or $0.44 per diluted common share, for the quarter ended March 31, 2024. This compares to net income of $7.0 million or $0.73 per diluted common share, for the quarter ended March 31, 2023, representing a decrease of $2.7 million or 39.1 percent, and compares to net income of $5.5 million or $0.57 per diluted common share for the fourth quarter of 2023, representing a decrease of $1.2 million or 22.0 percent.   Excluding the impact of $118,000 in merger-related expenses, net income and diluted earnings per share, respectively, were $4.3 million⁽¹⁾ and $0.45⁽¹⁾ for the quarter ended March 31, 2024.

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