Three months ended March 31, (in thousands, except per share data)

2017

2016

Net income

$

1,604

$

1,512

Less: Undistributed earnings allocated to participating securities

(10

)

(13

)

Net income allocated to common stock

$

1,594

$

1,499

Weighted-average common shares issued

2,765

2,747

Less: Unvested restricted stock awards

(16

)

(24

)

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

2,749

2,723

Add: Dilutive effect of stock options

19

18

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

2,768

2,741

Earnings per common share (basic)

$

0.58

$

0.55

Earnings per common share (diluted)

$

0.58

$

0.55