SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report - April 25, 1997
CODORUS VALLEY BANCORP, INC.
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(Exact name of registrant as specified in its charter)
Pennsylvania 0-15536 23-2428543
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(State or other (Commission File (IRS Employer
jurisdiction Number) Identification
of incorporation) Number)
One Manchester Street
Glen Rock, Pennsylvania 17327
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number including area code: (717) 235-6871
N/A
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(Former name or former address, if changed since last report)
<PAGE>
Item 1. Changes in Control of Registrant.
Not Applicable.
Item 2. Acquisition or Disposition of Assets.
Not Applicable.
Item 3. Bankruptcy or Receivership.
Not Applicable.
Item 4. Changes in Registrant's Certifying Accountant.
Not Applicable.
Item 5. Other Events.
On April 22, 1997, the Issuer released a Press Release
attached at Item 7 as Exhibit 99.
Item 6. Resignations of Registrant's Directors.
Not Applicable.
Item 7. Financial Statements and Exhibits.
Exhibits:
Exhibit 99 - Press Release
Item 8. Change in Fiscal Year.
Not Applicable.
<PAGE>
Pursuant to the requirements of the Securities Exchange Act
of 1934, the Registrant has duly caused this report to be signed
on its behalf by the undersigned hereunto duly authorized.
CODORUS VALLEY BANCORP, INC.
(Registrant)
/s/ Larry J. Miller
------------------------------
Larry J. Miller, President and
Chief Executive Officer
(Principal Executive Officer)
Dated: April 25, 1997
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EXHIBIT INDEX
Page
Number in
Manually
Signed
Exhibit No. Original
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99 Press Release 5
EXHIBIT 99
PRESS RELEASE OF APRIL 22, 1997
<PAGE>
CV
CODORUS VALLEY BANCORP, INC.
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PRESS RELEASE
CODORUS VALLEY BANCORP, INC.
SHARES TO TRADE IN NASDAQ NATIONAL MARKET
Glen Rock, Pennsylvania, April 22, 1997 -- The common stock of
Codorus Valley Bancorp, Inc. will begin trading on April 25, 1997
in the NASDAQ National Market, Larry J. Miller, President and
Chief Executive Officer, announced. Codorus Valley Bancorp,
Inc., whose trading symbol is "CVLY", is a bank holding company,
with PeoplesBank, A Codorus Valley Company ("PeoplesBank") as its
wholly-owned banking subsidiary. PeoplesBank (formerly Peoples
Bank of Glen Rock, organized in 1934) offers a full range of
commercial and consumer banking services through eight full
service community office locations in York County, Pennsylvania.
PeoplesBank employed 129 people (full time equivalent basis) as
of December 31, 1996. Trust and Investment Services are
available through a separate location at 120 Pine Grove Commons,
York.
Mr. Miller noted that Codorus Valley Bancorp, Inc.'s entry into
the NASDAQ National Market provides brokers and others with
immediate access to the best bid and ask prices and other
information about the company's shares throughout the trading
day. Those prices are available in over more than 300,000
electronic terminals in brokers' offices throughout the United
States and the world. Trading data is also distributed widely
through wire services for selective dissemination by newspapers
and radio and television stations.
Codorus Valley Bancorp, Inc. realized record profits in 1996;
earning $2,707,000 or $2.59 per share, compared to $2,594,000 or
$2.49 per share for 1995, adjusted for common stock dividends.
For 1996, the Return on Average Assets (ROA) and Return on
Average Equity (ROE) were 1.14 percent and 12.4 percent,
respectively, compared to 1.14 percent and 13.3 percent,
respectively, for 1995. The Corporation ended 1996 with
approximately $237 million in assets and $23 million in capital.
Book value per share, as restated for stock dividends, was $21.72
and $20.12 for years ended 1996 and 1995, respectively. Capital
levels for the Corporation remained well above the regulatory
requirements, as evidenced by a leverage ratio of 9.45 percent
and a tier I capital ratio of 13.61 percent at December 31, 1996.
Market makers in the Corporation's common stock include: Ryan
Beck & Co.; Janney, Montgomery, Scott, Inc.; Hopper Soliday &
Co., Inc.; F. J. Morrissey & Co., Inc.; and Sandler O'Neil &
Partners, L.P.
Codorus Valley Bancorp, Inc., 1 Manchester Street, P. O. Box 67,
Glen Rock, PA 17327-0067
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(717) 235-6871 or (717) 846-1970 - Fax (717) 235-0873
<PAGE>
CV
CODORUS VALLEY BANCORP, INC.
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Page Two
April 22, 1997
In addition to increased market visibility, NASDAQ offers Codorus
Valley Bancorp, Inc. the advantage of multiple market makers that
compete to offer the best bid and ask prices, as opposed to a
single specialist on the floor of the stock exchange.
For immediate release. Please direct all questions to Larry J.
Miller, President, at (717) 747-1500.
