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PeoplesBank promotes exec to operating role

York Township-based PeoplesBank has promoted a longtime executive to a new role.

According to a U.S. Securities & Exchange Commission filing by the company, Diane Baker was promoted to chief operating and risk officer and executive vice president of PeoplesBank. She previously worked as senior vice president and chief risk officer. 

The move comes a little more than a week after the bank fired its CEO, A. Dwight Utz. Utz also served as executive vice president and COO of PeoplesBank’s holding company, Codorus Valley Bancorp.

In an interview Monday, Codorus Valley’s chairman, president and CEO, Larry Miller, said the bank hasn’t yet found a successor for Utz.

The SEC filing did not disclose what Baker’s new role would entail. Efforts to reach Miller early Wednesday were not successful. 

Baker started working for the bank as a staff accountant in 1994. In addition to her new roles, Baker is currently vice president, assistant secretary and assistant treasurer of Codorus Valley.

According to its most recent earnings report, Codorus Valley posted 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 for all of 2016.

The bank has $1.7 billion in assets and operates 37 branches, including 11 satellite offices in retirement communities.

Shelby White
Shelby White covers banking and finance, law and Lancaster County for the Central Penn Business Journal. For tips, email her at [email protected].

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