# EDGAR Filing Document

**Accession Number:** 0000806279
**File Stem:** 0000897101-23-000010
**Filing Date:** 2023-1
**Character Count:** 9092
**Document Hash:** 65948375a326bbdfc931f08896294935
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000897101-23-000010.hdr.sgml**: 20230111

**ACCESSION NUMBER**: 0000897101-23-000010

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 14

**CONFORMED PERIOD OF REPORT**: 20230110

**ITEM INFORMATION**: Regulation FD Disclosure

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20230111

**DATE AS OF CHANGE**: 20230111

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** CODORUS VALLEY BANCORP INC
- **CENTRAL INDEX KEY:** 0000806279
- **STANDARD INDUSTRIAL CLASSIFICATION:** SAVINGS INSTITUTION, FEDERALLY CHARTERED [6035]
- **IRS NUMBER:** 232428543
- **STATE OF INCORPORATION:** PA
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 000-15536
- **FILM NUMBER:** 23522592

**BUSINESS ADDRESS:**
- **STREET 1:** CODORUS VALLEY CORPORATE CENTER
- **STREET 2:** 105 LEADER HEIGHTS ROAD
- **CITY:** YORK
- **STATE:** PA
- **ZIP:** 17403
- **BUSINESS PHONE:** 717-846-1970

**MAIL ADDRESS:**
- **STREET 1:** PO BOX 2887
- **STREET 2:** 105 LEADER HEIGHTS ROAD
- **CITY:** YORK
- **STATE:** PA
- **ZIP:** 17405

?xml version="1.0" encoding="utf-8"?

**UNITED STATES**

 **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**

 **January 10, 2023**

Date of Report (Date of earliest event reported)

**CODORUS VALLEY BANCORP, INC.**

(Exact name of registrant as specified in its charter)

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| | | |
|:---|:---|:---|
| **Pennsylvania** | **0-15536** | **23-2428543** |
| (State or other jurisdiction of incorporation) | (Commission File Number) | (IRS Employer Ident. No.) |

---

---

| | |
|:---|:---|
| **105 Leader Heights Road, PO Box 2887, York, Pennsylvania** | **17405-2887** |
| (Address of principal executive offices) | (Zip Code) |

---

 **717** **-747-1519**

Registrant's telephone number, including area code

**N/A**

(Former name or former address, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b)under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

---

| | | |
|:---|:---|:---|
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered |
| Common Stock, $2.50 par value | CVLY | NASDAQ Global Market |

---

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

CODORUS VALLEY BANCORP, INC.

FORM 8-K

---

| | |
|:---|:---|
| **Item 7.01.** | **Regulation FD Disclosure.** |

---

On January 11, 2023, Codorus Valley Bancorp Inc. (the "Corporation") issued a press release announcing that, on January 10, 2023, the Corporation's Board of Directors ("Board") declared a regular quarterly cash dividend of sixteen cents ($0.16) per share of its common stock, payable on February 14, 2023, to shareholders of record at the close of business on January 24, 2023. This represents a $0.01 per common share increase from the quarterly cash dividend paid in the prior four quarters.

The Corporation also announced that its Board approved the repurchase of up to $5 million in aggregate value of the Corporation's common stock from time to time in open market or privately negotiated transactions ("2023 Stock Repurchase Program"). The Board authorization will continue until the *earlier of* (i) an aggregate of $5 million of common stock has been repurchased, (ii) December 31, 2023, or (iii) until the Stock Repurchase Program has otherwise been suspended or terminated by the Board, in its sole discretion. Shares of common stock repurchased pursuant to the 2023 Stock Repurchase Program will be held as treasury shares available for use and reissuance for corporate purposes, as and when determined by the Board including, without limitation, pursuant to the Company's Dividend Reinvestment and Stock Purchase Plan and its equity compensation program.

A copy of the Corporation's press release announcing the dividend declaration and the 2023 Stock Repurchase Program, is attached hereto as Exhibit 99.1 and incorporated herein by reference.

The information in this Current Report on Form 8-K, including all exhibits attached hereto, is being furnished and shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934 (the "Exchange Act"), or otherwise subject to the liability of such section, nor shall it be deemed incorporated by reference in any filing by the Corporation under the Securities Act of 1933 or the Exchange Act, regardless of any general incorporation language in such filling, unless expressly incorporated by specific reference in such filing.

---

| | |
|:---|:---|
| **Item 9.01.** | **Financial Statements and Exhibits** |

---

---

| | | |
|:---|:---|:---|
| (d) | <u>Exhibits</u> |  |
|  | <u>Exhibit No.</u> | <u>Description</u> |
|  | [99.1](codorus230059_ex99-1.htm) | [Press release dated January 11, 2023.](codorus230059_ex99-1.htm) |
|  | 104 | Cover Page Interactive Data File (embedded in the cover page formatted in Inline XBRL) |

---

**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this Current Report on Form 8-K to be signed on its behalf by the undersigned, thereunto duly authorized.

---

| | | | |
|:---|:---|:---|:---|
|  |  | Codorus Valley Bancorp, Inc. | Codorus Valley Bancorp, Inc. |
| Date: | &nbsp;&nbsp;&nbsp;&nbsp;January 11, 2023 | By: | /s/ Larry D. Pickett |
|  |  |  | Larry D. Pickett |
|  |  |  | Treasurer |
|  |  |  | (Principal Financial and Accounting Officer) |

---

## Exhibit 99.1

![](a220569001.jpg)

105 Leader Heights Road • York, PA 17403 • 717.747.1519 • Fax 717.747.0490 • www.peoplesbanknet.com

**Exhibit 99.1**

**Codorus Valley Bancorp, Inc.** 

**Declares Quarterly Cash Dividend and Announces Share**

**Repurchase Program** 

 **FOR IMMEDIATE RELEASE** -- York, Pennsylvania -January 11, 2023

On January 10, 2023, the Board of Directors of Codorus Valley Bancorp, Inc. (the "Corporation") (Nasdaq: CVLY), the parent company of PeoplesBank, A Codorus Valley Company, declared a regular quarterly cash dividend of $0.16 per common share, payable on February 14, 2023, to shareholders of record at the close of business on January 24, 2023. This represents a $0.01 per common share increase from the quarterly cash dividend paid in the prior four quarters.

The Corporation also announced that its Board approved the repurchase of up to $5 million in aggregate value of the Corporation's common stock from time to time in open market or privately negotiated transactions ("2023 Stock Repurchase Program"). The Board authorization will continue until the earlier of (i) an aggregate of $5 million of common stock has been repurchased, (ii) December 31, 2023, or (iii) until the Stock Repurchase Program has otherwise been suspended or terminated by the Board, in its sole discretion. Shares of common stock repurchased pursuant to the 2023 Stock Repurchase Program will be held as treasury shares available for use and reissuance for corporate purposes, as and when determined by the Board including, without limitation, pursuant to the Company's Dividend Reinvestment and Stock Purchase Plan and its equity compensation program.

With assets of over $2 billion, PeoplesBank, A Codorus Valley Company, is a wholly owned subsidiary of Codorus Valley Bancorp, Inc., the largest independent financial institution headquartered in York County, Pennsylvania. PeoplesBank 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. Codorus Valley Bancorp, Inc.'s Common Stock is listed on the NASDAQ Global Market under the symbol CVLY.

**Questions or comments concerning this Press Release should be directed to:**

**Codorus Valley Bancorp, Inc.**

Craig L. Kauffman, President/CEO Larry D. Pickett, Treasurer

717-747-1501 717-747-1502

<u>ckauffman@peoplesbanknet.com</u> <u>lpickett@peoplesbanknet.com</u>