Codorus Valley Bancorp, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
July 27, 2023 at 04:31 pm EDT
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Codorus Valley Bancorp, Inc. reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported net interest income was USD 19.9 million compared to USD 17.74 million a year ago. Net income was USD 6.61 million compared to USD 1.95 million a year ago. Basic earnings per share from continuing operations was USD 0.69 compared to USD 0.2 a year ago. Diluted earnings per share from continuing operations was USD 0.69 compared to USD 0.2 a year ago.
For the six months, net interest income was USD 40.45 million compared to USD 33.44 million a year ago. Net income was USD 13.6 million compared to USD 5.01 million a year ago. Basic earnings per share from continuing operations was USD 1.42 compared to USD 0.53 a year ago. Diluted earnings per share from continuing operations was USD 1.42 compared to USD 0.52 a year ago.
Codorus Valley Bancorp, Inc. is a bank holding company. PeoplesBank is its wholly owned bank subsidiary. PeoplesBank is a Pennsylvania chartered bank that offers a full range of consumer, business, wealth management, and mortgage services at financial centers located in communities throughout South Central Pennsylvania and Central Maryland. In addition to the twenty-two full service financial centers, it has eight financial centers located primarily within retirement communities that provide a full suite of services. PeoplesBank is focused on acquiring and nurturing financial relationships with small and mid-sized businesses. The Company's business is with clients located within South Central Pennsylvania, principally York and Lancaster Counties and North Central Maryland, principally Harford County and Baltimore County. Its subsidiary, Codorus Valley Financial Advisors, Inc. d/b/a PeoplesWealth Advisors, which sells non-deposit investment products.