Exhibit 99.1


First National Lincoln Corporation Authorizes
Stock Repurchase Program

DAMARISCOTTA, ME., January 20, 2005 -- First National Lincoln Corporation
(Nasdaq NM: FNLC), today announced that its Board of Directors has authorized
the repurchase of up to 250,000 shares of the Company's common stock or
approximately 2.5% of the outstanding shares.  The new buyback program will
commence on or about January 27, 2005.

The Company expects such repurchases to be effected from time to time, in the
open market, in private transactions or otherwise, during a period of up to 24
months. The amount and timing of shares to be purchased will be subject to
market conditions and will be based on several factors, including the price of
the Company's stock and the level of stock issuances under the Company's
employee stock plans. No assurance can be given as to the specific timing of
the share repurchases or as to whether and to what extent the share repurchase
will be consummated.

"In my opinion, this new repurchase plan is definitely in the best interest of
our shareholders, especially given the current price of our shares," noted
Daniel R. Daigneault, FNLC's President and Chief Executive Officer. "It is also
an excellent method to make shares available for our dividend reinvestment plan
and employee stock programs without diluting the existing shares outstanding."

First National Lincoln Corporation, headquartered in Damariscotta, Maine, is
the holding company for The First National Bank of Damariscotta. Founded in
1864, The First is an independent community bank serving Mid-Coast and Down
East Maine with fourteen offices in Lincoln Knox, Hancock and Washington
Counties. The Bank provides a full range of consumer and commercial banking
products and services. Pemaquid Advisors, a division of The First, provides
investment advisory, private banking and trust services from four offices in
Lincoln, Cumberland and Hancock Counties.

Forward-looking and cautionary statements: except for the historical
information and discussions contained herein, statements contained in this
release may constitute "forward-looking statements" within the meaning of the
Private Securities Litigation Reform Act of 1995. These statements involve a
number of risks, uncertainties and other factors that could cause actual
results and events to differ materially, as discussed in the Company's filings
with the Securities and Exchange Commission.

For more information, please contact F. Stephen Ward, First National Lincoln
Corporation's Treasurer & Chief Financial Officer, at 207.563.3195 ext. 5001.
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