Exhibit 12

Codorus Valley Bancorp, Inc.

Statements Regarding Computation of Ratios

	Years Ended December 31,
(Dollars in thousands)	2016		2015		2014		2013		2012
Income (Loss) Before Income Taxes	$	18,988	$	15,948	$	16,437	$	14,483	$	12,497
Total Fixed Charges		8,779		8,428		8,280		8,934		10,966
Less Preferred Stock Dividends		16		120		174		250		384
Earnings, Including Interest on Deposits	$	27,751	$	24,256	$	24,543	$	23,167	$	23,079
Less Interest on Deposits		6,667		6,295		6,668		7,655		9,615
Earnings, Excluding Interest on Deposits	$	21,084	$	17,961	$	17,875	$	15,512	$	13,464
Fixed Charges:
Interest on Deposits	$	6,667	$	6,295	$	6,668	$	7,655	$	9,615
Interest on Borrowings and Long-term Debt		1,982		1,879		1,372		964		912
Interest Expense Embedded in Rental
Expense on Long-term Leases (a)		114		134		66		65		55
Preferred Stock Dividends		16		120		174		250		384
Total Fixed Charges, Including Interest on    Deposits	$	8,779	$	8,428	$	8,280	$	8,934	$	10,966
Less Interest on Deposits		6,667		6,295		6,668		7,655		9,615
Total Fixed Charges, Excluding Interest on    Deposits	$	2,112	$	2,133	$	1,612	$	1,279	$	1,351
Ratio of Earnings to Fixed Charges
Excluding Interest on Deposits		9.98		8.42		11.09		12.13		9.97
Including Interest on Deposits		3.16		2.88		2.96		2.59		2.10

(a) Represents 15%, 17%, 18%, 18% and 13% of total rent expense in 2016, 2015, 2014, 2013 and 2012, respectively.