Three months ended

Nine months ended

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

2020

2019

2020

2019

Net income

$

4,356

$

2,988

$

9,137

$

8,126

Less: Undistributed earnings allocated to participating securities

(67

)

(48

)

(131

)

(110

)

Net income allocated to common stock

$

4,288

$

2,940

$

9,006

$

8,016

Weighted-average common shares issued

2,843

2,823

2,835

2,815

Less: Unvested restricted stock awards

(44

)

(40

)

(41

)

(34

)

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

2,799

2,783

2,794

2,781

Add: Dilutive effect of stock options

8

12

8

12

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

2,807

2,795

2,802

2,793

Earnings per common share (basic)

$

1.53

$

1.06

$

3.22

$

2.88

Earnings per common share (diluted)

$

1.53

$

1.05

$

3.21

$

2.87