PeoplesBank CEO out
A. Dwight Utz, president and CEO of York Township-based PeoplesBank, ended his tenure with the company two years after taking the job.
Utz, who also served as executive vice president and COO of PeoplesBank parent company Codorus Valley Bancorp, was terminated from both positions according to a Securities and Exchange Commission filing made by the company.
The filing gave no reason for the dismissal, and requests for comment from the company were not immediately returned.
Utz was made CEO in January 2016, the same time Larry Miller announced his retirement from PeoplesBank. Miller retains his position as president and CEO of Codorus Valley Bancorp, which is based in York Township, York County.
According to a statement from the company at the time, Utz was responsible for developing and implementing PeoplesBank's business strategy, overseeing business operations and fulfilling budgetary goals.
The change for Utz took effect on Feb. 5. The SEC filing did not name successors for his positions at PeoplesBank or at parent company Codorus Valley.
Utz joined PeoplesBank in September 2015 as COO, according to Business Journal records. He had worked for banks in North Carolina but earlier in his career had been at Cumberland County National Bank before it was bought by PNC.
According to its most recent earnings report, Codorus Valley had net income of $1.5 million in the last quarter of 2017 and $12 million over the whole year. That is down from $3.8 million in the last quarter of 2016 and $13.1 million over all of 2016.
The bank has $1.7 billion in assets and operates 37 branches, including 11 satellite offices in retirement communities