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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Codorus Valley Bancorp Inc | NASDAQ:CVLY | NASDAQ | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.53 | 2.36% | 22.95 | 22.95 | 23.03 | 23.11 | 22.39 | 22.49 | 132,728 | 19:37:32 |
Pennsylvania
|
001-34292
|
23-2530374
|
(State or other jurisdiction of incorporation or organization)
|
(Commission file number)
|
(IRS Employer Identification No.)
|
☒ |
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
|
☐ |
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
|
☐ |
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
|
☐ |
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
|
Title of Each Class
|
Trading Symbol(s)
|
Name of Each Exchange on Which Registered
|
Common Stock, no par value
|
ORRF
|
Nasdaq Stock Market
|
Item 8.01 |
Other Events
|
Price / TBV
|
Price / LTM EPS
|
Price / 2024 EPS
|
Price / 2025 EPS
|
|||||||||||||
Arrow Financial Corporation
|
139
|
%
|
13.6
|
x
|
10.6
|
x
|
9.3
|
x
|
||||||||
The First of Long Island Corporation
|
78
|
%
|
9.2
|
x
|
10.7
|
x
|
9.2
|
x
|
||||||||
Peoples Financial Services Corp.
|
122
|
%
|
9.9
|
x
|
10.1
|
x
|
8.2
|
x
|
||||||||
BCB Bancorp, Inc.
|
73
|
%
|
5.9
|
x
|
7.6
|
x
|
6.7
|
x
|
||||||||
Citizens Financial Services, Inc.
|
167
|
%
|
14.5
|
x
|
9.3
|
x
|
8.7
|
x
|
||||||||
Chemung Financial Corporation
|
151
|
%
|
7.8
|
x
|
9.7
|
x
|
8.7
|
x
|
||||||||
Citizens & Northern Corporation
|
169
|
%
|
11.5
|
x
|
13.0
|
x
|
12.0
|
x
|
||||||||
Fidelity D & D Bancorp, Inc.
|
230
|
%
|
13.3
|
x
|
-
|
-
|
||||||||||
Orange County Bancorp, Inc.
|
209
|
%
|
9.4
|
x
|
10.1
|
x
|
9.4
|
x
|
||||||||
ESSA Bancorp, Inc.
|
91
|
%
|
9.4
|
x
|
10.1
|
x
|
9.1
|
x
|
||||||||
Meridian Corporation
|
98
|
%
|
8.7
|
x
|
8.7
|
x
|
7.4
|
x
|
||||||||
Codorus Valley Bancorp, Inc.
|
109
|
%
|
7.2
|
x
|
11.7
|
x
|
10.7
|
x
|
||||||||
Norwood Financial Corp.
|
176
|
%
|
10.1
|
x
|
-
|
-
|
||||||||||
Evans Bancorp, Inc.
|
115
|
%
|
7.7
|
x
|
14.9
|
x
|
9.6
|
x
|
||||||||
Hanover Bancorp, Inc.
|
79
|
%
|
8.7
|
x
|
13.4
|
x
|
9.7
|
x
|
Price / TBV
|
Price / LTM EPS
|
Price / 2024 EPS
|
Price / 2025 EPS
|
|||||||||||||
Peoples Financial Services Corp.
|
122
|
%
|
9.9
|
x
|
10.1
|
x
|
8.2
|
x
|
||||||||
BCB Bancorp, Inc.
|
73
|
%
|
5.9
|
x
|
7.6
|
x
|
6.7
|
x
|
||||||||
Orrstown Financial Services, Inc.
|
117
|
%
|
6.8
|
x
|
8.3
|
x
|
8.0
|
x
|
||||||||
Citizens Financial Services, Inc.
|
167
|
%
|
14.5
|
x
|
9.3
|
x
|
8.7
|
x
|
||||||||
Chemung Financial Corporation
|
151
|
%
|
7.8
|
x
|
9.7
|
x
|
8.7
|
x
|
||||||||
Citizens & Northern Corporation
|
169
|
%
|
11.5
|
x
|
13.0
|
x
|
12.0
|
x
|
||||||||
Fidelity D & D Bancorp, Inc.
|
230
|
%
|
13.3
|
x
|
-
|
-
|
||||||||||
Orange County Bancorp, Inc.
|
209
|
%
|
9.4
|
x
|
10.1
|
x
|
9.4
|
x
|
||||||||
ESSA Bancorp, Inc.
|
91
|
%
|
9.4
|
x
|
10.1
|
x
|
9.1
|
x
|
||||||||
Meridian Corporation
|
98
|
%
|
8.7
|
x
|
8.7
|
x
|
7.4
|
x
|
||||||||
Norwood Financial Corp.
|
176
|
%
|
10.1
|
x
|
-
|
-
|
||||||||||
Evans Bancorp, Inc.
|
115
|
%
|
7.7
|
x
|
14.9
|
x
|
9.6
|
x
|
||||||||
Hanover Bancorp, Inc.
|
79
|
%
|
8.7
|
x
|
13.4
|
x
|
9.7
|
x
|
||||||||
First United Corporation
|
102
|
%
|
7.2
|
x
|
9.7
|
x
|
8.7
|
x
|
||||||||
Franklin Financial Services Corporation
|
138
|
%
|
10.6
|
x
|
-
|
-
|
Implied Per Share Value |
Implied | ||||||||||||||||||||||||||
Orrstown
|
Codorus
|
Orrstown
|
Codorus |
Exchange Ratio
|
|||||||||||||||||||||||
Statistic
|
Statistic
|
25th Pctl.
|
75th Pctl.
|
25th Pctl.
|
75th Pctl.
|
Low/High High/Low
|
|||||||||||||||||||||
Tangible Book Value
|
$ | 20.89 |
$
|
18.80
|
$
|
19.71
|
$
|
35.08
|
$
|
18.82
|
$
|
31.57
|
0.536x - 1.602x
|
||||||||||||||
LTM EPS
|
$ | 3.60 |
$
|
2.86
|
$
|
29.63
|
$
|
38.84
|
$
|
22.19
|
$
|
29.63
|
0.571x - 1.000x
|
||||||||||||||
2024 EPS
|
$ | 2.93 |
$
|
1.75
|
$
|
28.41
|
$
|
34.17
|
$
|
16.08
|
$
|
19.05
|
0.470x - 0.670x
|
||||||||||||||
2025 EPS
|
$ | 3.05 |
$
|
2.00
|
$
|
26.52
|
$
|
29.17
|
$
|
16.29
|
$
|
18.80
|
0.559x - 0.709x
|
||||||||||||||
Exchange Ratio in the Merger
|
0.875x
|
Projected per share impact
|
ORRF
|
CVLY
|
Pro Forma
|
Accretion /
(Dilution)
to ORRF
|
||||||||
2024 estimated earnings per share
|
$2.93
|
$1.75
|
$3.55
|
21.3%
|
|
|||||||
2025 estimated earnings per share
|
$3.05
|
$2.00
|
$4.46
|
46.1%
|
|
|||||||
6/30/2024 estimated tangible book value per share
|
$23.46
|
$20.16
|
$18.56
|
(20.9%)
|
|
Date: May 24, 2024
|
Orrstown Financial Services, Inc.
|
|
By:
|
/s/Neelesh Kalani
|
|
Neelesh Kalani
|
||
Executive Vice President, Chief Financial Officer
|
1 Year Codorus Valley Bancorp Chart |
1 Month Codorus Valley Bancorp Chart |
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