EXHIBIT 99.1

Codorus Valley Bancorp, Inc. Reports Earnings and
Declaration of Cash Dividend

          FOR IMMEDIATE RELEASE — York, Pennsylvania (July 18, 2011) — Codorus Valley Bancorp, Inc. (Nasdaq: CVLY), the parent company of PeoplesBank, today announced net income available to common shareholders of $1,626,000 or $0.39 per share, basic and diluted, for the quarter ended June 30, 2011, compared to the $1,380,000 or $0.34 per share, basic and diluted, for the quarter ended June 30, 2010. For the first six months of 2011, net income available to common shareholders was $2,892,000 or $0.70 per share ($0.69 diluted), compared to $2,846,000 or $0.70 per share ($0.70 diluted) for the same period of 2010.

          The increase in earnings for both periods was due primarily to an increase in net interest income, which resulted from an increase in the average volume of investment securities and improved yield on floating rate commercial loans, coupled with a decrease in deposit rates, which reflected unusually low market interest rates. A decrease in the provision for loan losses, due to the adequacy of the allowance for loan losses, also contributed to the increase in earnings. Earnings growth continued to be constrained however, by credit quality issues resulting from prolonged weakness in business and economic conditions, the high level of unemployment and the erosion of real estate values. Accordingly, the level of provision for loan losses and carrying costs for impaired loans and foreclosed real estate remained elevated.

          On June 30, 2011, total assets were approximately $977 million, representing a $60 million or 7 percent increase above June 30, 2010. Compared to one year ago, asset growth occurred primarily in the investment securities and commercial loan portfolios, which were funded by an increase in core deposits. Additional financial information, which is unaudited, is provided in the Financial Highlights section of this Earnings Release.

          President and CEO Larry J. Miller commented, “We are excited about our recent expansion in the Maryland region and are in the process of finalizing the details to open a financial center in Carroll County. This office, which will be located in the rapidly growing Westminster area, is expected to be operational in September marking our third Maryland location.”

          In other news, on July 12, 2011, Codorus Valley’s Board of Directors declared a regular quarterly cash dividend of $0.09 per common share, payable on or before August 9, 2011, to shareholders of record on July 26, 2011. The Board of Directors regularly reviews the dividend policy and can be expected to approve future changes to it as they deem necessary and appropriate.