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

2019

2018

Net income

$

2,434

$

2,015

Less: Undistributed earnings allocated to participating securities

(26

)

(20

)

Net income allocated to common stock

$

2,408

$

1,995

Weighted-average common shares issued

2,806

2,786

Less: Unvested restricted stock awards

(29

)

(27

)

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

2,777

2,759

Add: Dilutive effect of stock options

12

21

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

2,789

2,780

Earnings per common share (basic)

$

0.87

$

0.72

Earnings per common share (diluted)

$

0.86

$

0.72