Codorus Valley Bancorp, Inc. Reports Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2022
January 26, 2023 at 04:31 pm
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Codorus Valley Bancorp, Inc. reported earnings results for the fourth quarter and full year ended December 31, 2022. For the fourth quarter, the company reported net interest income was USD 21.46 million compared to USD 15.66 million a year ago. Net income was USD 7.93 million compared to USD 2.69 million a year ago. Basic earnings per share from continuing operations was USD 0.83 compared to USD 0.28 a year ago. Diluted earnings per share from continuing operations was USD 0.83 compared to USD 0.28 a year ago.
For the full year, net interest income was USD 75.25 million compared to USD 62.1 million a year ago. Net income was USD 20.09 million compared to USD 14.66 million a year ago. Basic earnings per share from continuing operations was USD 2.11 compared to USD 1.51 a year ago. Diluted earnings per share from continuing operations was USD 2.1 compared to USD 1.5 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.