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. 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 in accordance with ASC Topic 810, “Consolidation”.