CODORUS VALLEY BANCORP, INC. (NASDAQ:CVLY) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item 5.02
On October 8, 2019, the Board of Directors of Codorus Valley Bancorp (the “Company”), the parent company of PeoplesBank, A Codorus Valley Company (the “Bank”) increased the number of its Class B Directors from two to three members, thereby increasing the size of the Company\’s Board of Directors to nine (9) members, and appointed Craig L. Kauffman to fill the vacancy created by such increase. Mr. Kauffman\’s appointment as a Class B Director is effective immediately and his term will expire as of the annual meeting of shareholders date in 2022. The Company issued a Press Release, attached as Exhibit 99.1 announcing the appointment of Mr. Kauffman to the Board of Directors of the Company.
Mr. Kauffman is currently employed by the Bank and holds the position of President and Chief Executive Officer and Director. In addition, Mr. Kauffman serves as Executive Vice President and Chief Operating Officer of the Company. He has held these positions since August 2018.
There are no arrangements or understandings between the Company and Mr. Kauffman, or any other persons or entities to which Mr. Kauffman was selected as Director. In connection with his appointment, Mr. Kauffman will not receive Director compensation.
Item 9.01 Financial Statements and Exhibits
(d) Exhibits.
No. Description
| 99.1 | Press release of Codorus Valley Bancorp, dated October 11, 2019. |
CODORUS VALLEY BANCORP INC Exhibit
EX-99.1 2 codorus192007_ex99-1.htm PRESS RELEASE DATED OCTOBER 11,…
To view the full exhibit click here
About CODORUS VALLEY BANCORP, INC. (NASDAQ:CVLY)
Codorus Valley Bancorp, Inc. 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. The Company’s loan portfolio consists of commercial related loans and consumer related loans. The Company’s deposits include noninterest bearing demand, negotiable order of withdrawal (NOW), money market, savings and time deposits.
