July 16--Codorus Valley Bancorp, the parent company of PeoplesBank, announced a second quarter net income available to common shareholders of $2.7 million, up from $2.5 million in the second quarter of 2013.
The company attributed the 7 percent increase in net income to an increase in the volume of earning assets and a decrease in interest paid on deposits.
Diluted earnings are at $0.49 per common share, down from $0.54 last June.
Codorus Valley Bancorp's total assets are $1.2 billion, up 9 percent from June 30, 2013.
Their subsidiary, PeoplesBank, also purchased a building at 3100 Market Street, Camp Hill. The building will be used for a business banking center, the company said in a press release.
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