Codorus Valley Bancorp Q1 net income falls 39% to $4.3M; NIM compresses 66 bps

CODORUS VALLEY BANCORP INC

2024-Q1 EPS reported $0.44

Net income $4.3M ($0.44 diluted EPS) vs $7.0M ($0.73) in Q1 2023, down 39%.
Net interest margin declined to 3.34% from 4.00% a year ago, a 66-basis-point drop.
Efficiency ratio 73.91%; return on average assets 0.77%; return on equity 8.48%.
Cash dividend $0.17 per share, payable May 14, 2024 to holders of record May 7.
Merger-related expenses of $118k incurred from pending Orrstown (ORRF) merger.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.98

CODORUS VALLEY BANCORP INC reported quarter ended March 31, 2024 results: net income $4.3 million, EPS $0.44 per diluted common share.

Period: quarter ended March 31, 2024
Net income: $4.3 million
EPS: $0.44 per diluted common share
Result: reported results

Exact text from the filing

Codorus Valley Bancorp, Inc. (the “Corporation”) (NASDAQ: CVLY), parent company of PeoplesBank, A Codorus Valley Company (“PeoplesBank”, or the “Bank”), today reported net income of $4.3 million or $0.44 per diluted common share, for the quarter ended March 31, 2024.

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Source: SEC EDGAR

accession 0000897101-24-000141

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