Three months

Six months

Periods ended June 30, (in thousands, except share and per share data)

2016

2015

2016

2015

Net income

$

1,735

$

2,072

$

3,247

$

4,306

Less: Preferred stock dividends declared

—

(40

)

—

(80

)

Net income available to common shareholders

1,735

2,032

3,247

4,226

Less: Undistributed earnings allocated to participating securities

(13

)

(18

)

(27

)

(37

)

Net income allocated to common stock

$

1,722

$

2,014

$

3,220

$

4,189

Weighted-average common shares issued

2,756

2,730

2,751

2,727

Less: Unvested restricted stock awards

(21

)

(24

)

(22

)

(24

)

Weighted-average common shares outstanding used to calculate basic earnings per common share

2,735

2,706

2,729

2,703

Add: Dilutive effect of stock options

15

18

16

17

Weighted-average common shares outstanding used to calculate diluted earnings per common share

2,750

2,724

2,745

2,720

Earnings per common share (basic)

$

0.63

$

0.74

$

1.18

$

1.55

Earnings per common share (diluted)

$

0.63

$

0.74

$

1.17

$

1.54