Three months

Six months

Periods ended June 30, (in thousands)

2014

2013

2014

2013

Net income

$

966

$

1,144

$

1,517

$

2,084

Less: Preferred stock dividends declared

(40

)

(41

)

(86

)

(81

)

Net income available to common shareholders

926

1,103

1,431

2,003

Less: Undistributed earnings allocated to participating securities

(10

)

(11

)

(17

)

(18

)

Net income allocated to common stock

$

916

$

1,092

$

1,414

$

1,985

Common shares issued

1,713

1,710

1,712

1,705

Less: Unvested restricted stock awards

(22

)

(19

)

(21

)

(15

)

Common shares outstanding used to calculate basic earnings per common share

1,691

1,690

Add: Dilutive effect of unvested restricted stock awards

—

Common shares outstanding used to calculate diluted earnings per common share

1,691

1,690

Earnings per common share (basic and diluted)

$

0.54

$

0.65

$

0.83

$

1.17