EXHIBIT 21

SUBSIDIARIES OF CODORUS VALLEY BANCORP, INC.

1.	PeoplesBank, A Codorus Valley Company – 100% owned
	(chartered in Pennsylvania)
	105-109 Leader Heights Road
	York, PA 17403
2.	SYC Realty Company, Inc. – 100% owned
	(incorporated in Pennsylvania)
	1 Manchester Street, P.O. Box 67
	Glen Rock, Pennsylvania 17327
3.	CVLY Corp. – 100% owned
	(incorporated in Pennsylvania)
	105 Leader Heights Road
	York, PA 17405
4.	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
5.	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 in accordance with ASC Topic 810, “Consolidation”.

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