Three months ended

Nine months ended

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

2021

2020

2021

2020

Net income

$

3,453

$

4,356

$

12,332

$

9,137

Less: Undistributed earnings allocated to participating securities

(53

)

(67

)

(184

)

(131

)

Net income allocated to common stock

$

3,400

$

4,288

$

12,148

$

9,006

Weighted-average common shares issued

2,862

2,843

2,853

2,835

Less: Unvested restricted stock awards

(45

)

(44

)

(43

)

(41

)

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

2,817

2,799

2,810

2,794

Add: Dilutive effect of stock options

26

8

20

8

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

2,843

2,807

2,830

2,802

Earnings per common share (basic)

$

1.21

$

1.53

$

4.32

$

3.22

Earnings per common share (diluted)

$

1.20

$

1.53

$

4.30

$

3.21