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United States

Profile: Codorus Valley Bancorp Inc (CVLY.OQ)

CVLY.OQ on NASDAQ Stock Exchange Global Market

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2 Dec 2016
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Codorus Valley Bancorp, Inc., incorporated on October 7, 1986, is a bank holding company. The Company provides a range of banking services through its subsidiary, PeoplesBank, A Codorus Valley Company (PeoplesBank). The Company operates through the community banking segment. PeoplesBank is a chartered bank that offers a range of business and consumer banking services. PeoplesBank provides personal banking, mortgage banking, wealth management and real estate settlement services. PeoplesBank operates approximately 20 financial centers located in York and Cumberland Counties in Pennsylvania, and in Baltimore, Harford and Carroll Counties, and Baltimore City in Maryland.

Lending Activities

The Company's loan portfolio consists of commercial related loans and consumer related loans. The Company's commercial related loans consist of commercial, financial and agricultural loans and real estate-construction and land development loans. The Company's consumer related loans consist of real estate-residential mortgages loans and consumer and home equity loans. The Company offers commercial loans for various industries, including builder and developer, commercial real estate investor, residential real estate investor, hotel/motel, wholesale and retail, agriculture and manufacturing, among others. The Company's total loans are approximately $1.12 billion.

Investment Activities

The Company's securities available-for-sale portfolio consists of debt instruments, such as obligations of the United States Government or agencies thereof and investments in the obligations of states and municipalities. The Company's total debt securities are approximately $213.47 million.

Sources of Funds

The Company's principal sources of funding for earning assets are deposits. Its deposits include noninterest bearing demand, negotiable order of withdrawal (NOW), money market, savings and time deposits. The Company's total deposits are approximately $1.09 billion. Its short-term borrowings consist of securities sold under agreements to repurchase, federal funds purchased and other borrowings. Other short-term borrowings consist of credit available through the Federal Home Loan Bank of Pittsburgh (FHLBP) and the Federal Reserve Discount Window.

Subsidiary Activities

PeoplesBank operates subsidiaries, such as Codorus Valley Financial Advisors, Inc., which sells non-deposit investment products, and SYC Settlement Services, Inc., which provides real estate settlement services. The Company's non-bank subsidiaries include SYC Realty Co., Inc., which holds certain foreclosed assets obtained by PeoplesBank pending liquidation of those properties, and CVLY Corp., which may be used, as needed, for the financial and legal management of acquisition transactions. Its non-bank subsidiaries also include CVB Statutory Trust No. 2 and CVB Statutory Trust No. 1.

Company Address

Codorus Valley Bancorp Inc

Codorus Valley Corporate Center
105 Leader Heights Road
YORK   PA   17403
P: +1717.8461970

Company Web Links