EXHIBIT 99

                                  PRESS RELEASE

                          Codorus Valley Bancorp, Inc.

                    Common Stock Repurchase Program Initiated

Codorus Valley Bancorp, Inc. (Codorus Valley or Corporation), announced that its
board of directors has authorized the purchase, in open market and privately
negotiated transactions, of up to 4.9% or approximately 146,000 shares of its
currently outstanding common stock. Codorus Valley's shares trade on the Nasdaq
National Market under the symbol "CVLY." Repurchases are authorized to be made
by Codorus Valley periodically when market conditions warrant. In announcing the
plan, Codorus Valley's President and CEO Larry J. Miller stated that the board
of directors believes that the opportunity to purchase Codorus Valley common
stock represents an attractive opportunity for the Corporation and its
shareholders.

Codorus Valley, with consolidated assets of approximately $392 million (6/30/04
data), is the parent company of PeoplesBank, A Codorus Valley Company.
PeoplesBank, with origins dating back to 1864, provides a full range of business
and consumer banking services through twelve financial centers throughout York
County, Pennsylvania. It also offers mortgage banking, investment, insurance,
trust and real estate settlement services. Additional information is available
on the bank's website -- www.peoplesbanknet.com.

Management of Codorus Valley Bancorp, Inc. has made forward-looking statements
in this Press Release. These forward-looking statements are subject to risks and
uncertainties. Forward-looking statements include information concerning
possible or assumed future results of operations of the corporation and its
subsidiaries. When words such as "believes," "expects," "anticipates" or similar
expressions occur in this Press Release, management is making forward-looking
statements. Note that many factors could affect the future financial results of
the corporation and its subsidiaries, both individually and collectively, and
could cause those results to differ materially from those expressed in the
forward-looking statements contained in this Press Release.

Questions or comments regarding this Press Release should be directed to
Larry J. Miller, President & CEO, Codorus Valley Bancorp, Inc. by
telephone at 717-747-1500 or 800-646-1970; or by e-mail at
lmiller@peoplesbanknet.com.

October 14, 2004
York, Pennsylvania


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