Codorus Valley Bancorp board authorizes $5M share repurchase program

The Corporation 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. The Board authorization will continue until the earlier of an aggregate of $5 million of common stock has been repurchased, December 31, 2023, or 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.