Codorus Valley Bancorp Inc. and Orrstown Financial Services Inc. are merging as equals, and Holland & Knight is advising the former.

July 2, 2024, in Philadelphia The parent company of PeoplesBank, Codorus Valley Bancorp Inc. (NASDAQ: CVLY), merged with Orrstown Financial Services Inc. (NASDAQ: ORRF) and its wholly owned subsidiary, Orrstown Bank, in an all-stock deal estimated to be worth $207 million. Holland & Knight provided advice on the merger. The transaction, which finalized on July 1, would establish a superior community bank operating under the name "Orrstown Bank" across Pennsylvania and Maryland.

The combined business will have over $5.2 billion in assets and a market value of about $460 million, with 51 branches serving communities in Central and Eastern Pennsylvania as well as Greater Baltimore.Paul J. Jaskot, a partner at Holland & Knight, oversaw the company's Codorus Valley presence. Partners Travis Nelson, Roger Lane, John Martini, and Associates Francesco Salpietro, Nicole Martini, Kelcie Ouillette, Caitlin Simkins, Ryaan Ibtisam, Charnae Supplee, and Michael Romeo all provided assistance for him.