Shares of Codorus Valley Bancorp climbed 5.4% to $21.65 in after-hours trade following news of a merger agreement with Orrstown Financial Services.
Orrstown, the parent company of Orrstown Bank, said Tuesday it is buying the financial services holding company Codorus Valley in an all-stock transaction valued at $207 million.
The agreement, approved by both boards of directors and expected to close in the third quarter of 2024, would create a Pennsylvania and Maryland community bank.