UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G/A
Under the Securities Exchange Act of 1934
(Amendment No. 7)*
CODORUS VALLEY BANCORP, INC.
(Name of Issuer)
COMMON STOCK, PAR VALUE $2.50 PER SHARE
(Title of Class of Securities)
192-025-10-4
(Cusip Number)
*The remainder of this cover page shall be filled out for a reporting
person's initial filing on this form with respect to the subject class of
securities, and for any subsequent amendment containing information which
would alter the disclosures provided in a prior cover page.
The information required in the remainder of this cover page shall not be
deemed to be "filed" for the purpose of Section 18 of the Securities Exchange
Act of 1934 ("Act") or otherwise subject to the liabilities of that section of
the Act but shall be subject to all other provisions of the Act (however,
see the Notes).
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CUSIP No. 192-025-10-4
13G
1. NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY)
PEOPLESBANK, A CODORUS VALLEY COMPANY, TRUST AND INVESTMENT
SERVICES DIVISION
2. CHECK THE APPROPRIATE BOX IF MEMBER OF A GROUP*
(a)________ (b)________
NOT APPLICABLE
3. SEC USE ONLY
4. CITIZENSHIP OR PLACE OF ORGANIZATION
COMMONWEALTH OF PENNSYLVANIA
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
5. SOLE VOTING POWER 148,012
6. SHARED VOTING POWER 39,436
7. SOLE DISPOSITIVE POWER 179,386
8. SHARED DISPOSITIVE POWER 0
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
187,448
10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES*
NOT APPLICABLE
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
8.0%
12. TYPE OF REPORTING PERSON*
BK*
*BANK TRUST DEPARTMENT
<PAGE>
Reporting Person
SCHEDULE 13G
Filed by: PeoplesBank, A Codorus Valley Company, Trust and
Investment Services Division
With: Securities and Exchange Commission
Washington, D.C. 20549
Calendar Year: 1998
Covered
Item 1 (a) Name of Issuer:
Codorus Valley Bancorp, Inc.
Item 1 (b) Address of Issuer's Principal Executive Offices:
105 Leader Heights Road
P. O. Box 2887
York, PA 17405
Item 2 (a) Name of Person Filing:
PeoplesBank, A Codorus Valley Company,
Trust and Investment Services Division
Item 2 (b) Address of Principal Business Office or, if none,
Residence:
One Manchester Street
P. O. Box 67
Glen Rock, PA 17327
Item 2 (c) Citizenship:
Commonwealth of Pennsylvania
Item 2 (d) Title of Class of Securities:
Common Stock, par value $2.50 per share
Item 2 (e) Cusip Number:
192-025-10-4
Item 3: If this statement is filed pursuant to Rule 13d-1
(b), or 13d-2 (b) (c), check whether the person
filing is a:
(a) ____ Broker or dealer registered under Section 15 of the
Act.
(b) XX Bank as defined in Section 3 (a) (6) of the Act.
(c) ____ Insurance company as defined in Section 3 (a) (19)
of the Act.
(d) ____ Investment company registered under Section 8 of the
Investment Company Act of 1940.
<PAGE>
(e) ____ Investment adviser in accordance with Section
240.13d-1(b)(1)(ii)(E).
(f) ____ Employee benefit plan, or endowment fund in accordance
with Section 240.13d-1(b)(1)(ii) (F).
(g) ____ Parent holding company or central person in accordance
with Section 240.13d-1(b)(1)(ii)(G).
(h) ____ Savings associations as defined in Section 3(b) of the
Federal Deposit Insurance Act.
(i) ____ Church plan that is excluded from the definition of
an investment company under Section 3(c)(14) of the
Investment Company Act of 1940.
Item 4 Ownership (as of December 31, 1998):
(a) Amount Beneficially owned:
187,448 shares of Common Stock, par value $2.50 per share.
(b) Percent of Class: 8.0%
(c) Number of Shares as to which such person has:
(i) Sole power to vote or to direct the vote: 148,012
(ii) Shared power to vote or to direct the vote: 39,436
(iii) Sole power to dispose or to direct the disposition of:
179,386
(iv) Shared power to dispose or to direct the disposition
of: 0
Item 5 Ownership of 5% or Less of a Class:
Not Applicable
Item 6 Ownership of More than 5% on Behalf of Another Person:
139,950 shares of the Issuer that are "beneficially owned"
by PeoplesBank, A Codorus Valley Company are held by
PeoplesBank, A Codorus Valley Company, Trust and Investment
Services Division in its fiduciary capacity; the Trust and
Investment Services Division has sole voting and dispositive
power over these shares. 39,436 shares of the issuer that
are "beneficially owned" by PeoplesBank, A Codorus Valley
Company held by PeoplesBank, A Codorus Valley Company, Trust
and Investment Services Division in one Trust account which
provides for the Bank to exercise sole dispositive power;
the Trust and Investment Services Division has shared voting
power over these shares. 8,062 shares of the Issuer that are
"beneficially owned" by PeoplesBank, A Codorus Valley
Company are held by PeoplesBank, A Codorus Valley Company,
Trust and Investment Services Division in agency accounts
which provide for the Bank to exercise sole voting power;
the Trust and Investment Services Division has no dispositive
power over these shares.
<PAGE>
Item 7 Identification and Classification of the Subsidiary which
acquired the security being reported on by the parent holding
company: Not Applicable
Item 8 Identification and Classification of Members of the Group:
Not Applicable
Item 9 Notice of Dissolution of Group:
Not Applicable
Item 10 Certification:
By signing below I certify that, to the best of my knowledge
and belief, the securities referred to above were acquired and
are held in the ordinary course of business and were not
acquired and are not held for the purpose of or with the
effect of changing or influencing the control of the Issuer
of the securities and were not acquired and are not
held in connection with or as a participant in any
transaction having that purpose or effect.
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete
and correct.
Date: 2/8/99 /s/ Stephanie R. Covahey
Stephanie R. Covahey, Vice President
PeoplesBank, A Codorus Valley Company
Trust and Investment Services Division
