Press Release
July 2, 2024

Holland & Knight Advises Codorus Valley Bancorp Inc. in Merger of Equals with Orrstown Financial Services Inc.

PHILADELPHIA (July 2, 2024) – Holland & Knight advised Codorus Valley Bancorp Inc. (NASDAQ: CVLY), the parent company of PeoplesBank, on its merger with Orrstown Financial Services Inc. (NASDAQ: ORRF) and its wholly owned subsidiary, Orrstown Bank, in an all-stock transaction valued at approximately $207 million. The deal, which closed on July 1, will create a premier Pennsylvania and Maryland community bank that will operate under the "Orrstown Bank" name.

The combined company will have 51 branches serving markets throughout Central and Eastern Pennsylvania and Greater Baltimore with approximately $5.2 billion in assets and a market capitalization of approximately $460 million.

Holland & Knight Partner Paul J. Jaskot led the firm’s representation of Codorus Valley. He was supported by Partners John Martini, Travis Nelson and Roger Lane and Associates Francesco Salpietro, Nicole Martini, Kelcie Ouillette, Caitlin Simkins, Ryaan Ibtisam, Charnae Supplee and Michael Romeo.

More information on the transaction can be found here.

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