Three months ended March 31, (in thousands)

2018

2017

Net income

$

2,015

$

1,604

Less: Undistributed earnings allocated to participating securities

(20

)

(10

)

Net income allocated to common stock

$

1,995

$

1,594

Weighted-average common shares issued

2,786

2,765

Less: Unvested restricted stock awards

(27

)

(16

)

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

2,759

2,749

Add: Dilutive effect of stock options

21

19

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

2,780

2,768

Earnings per common share (basic)

$

0.72

$

0.58

Earnings per common share (diluted)

$

0.72

$

0.58