EXHIBIT 21

SUBSIDIARIES OF CODORUS VALLEY BANCORP, INC.

1.	PeoplesBank, A Codorus Valley Company – 100% owned (chartered in Pennsylvania) 1 Manchester Street, P.O. Box 67 Glen Rock, Pennsylvania 17327
2.	SYC Realty Company, Inc. – 100% owned (incorporated in Pennsylvania) 1 Manchester Street, P.O. Box 67 Glen Rock, Pennsylvania 17327
3.	CVB Statutory Trust I – 100% owned (1) (formed in Delaware)
	Trustee:
	Wilmington Trust Company Rodney Square North 1100 North Market Street Wilmington, Delaware 19890 Attn: Corporate Trust Administration
4.	CVB Statutory Trust 2 – 100% owned (1) (formed in Delaware)
	Trustee:
	Wells Fargo Bank, National Association 919 Market Street Suite 700 Wilmington, Delaware 19801 Attn: Corporate Trust Division
	(1)	The Statutory Trusts have not been consolidated into the financial statements of the Corporation as per ASC Topic 810, “Consolidation”.

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