The Bank Slate


Former bank CEO added to Codorus Valley board

Codorus Valley Bancorp in York, Pa., has added a veteran banker to its board. 

The $2.3 billion-asset company said in a press release Tuesday that Scott Fainor had also joined its risk management committee. 

Fainor was president and CEO of National Penn Bancshares when it was sold to BB&T in April 2016. He was a group executive at BB&T about until 2019; he is now chairman of Fainor Holdings. 

The company also appointed Kent Matsumoto to its board. Matsumoto, who was legal counsel at several publicly traded companies during his career, is already a director of Codorus Valley’s bank. 

The appointments come two months after Codorus Valley reached a truce with Driver Management, an activist investor that had pushed the company to find a buyer. 

Codorus Valley had previously added John Kiernan, a Driver-proposed director nominee, to its board. The company agreed to select a second director and to work with Driver to “identify a third new director with substantial public company board experience from the banking sector.”

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