First National Lincoln Corp.

DAMARISCOTTA -First National Lincoln Corporation (Nasdaq NM: FNLC), on Wednesday announced earnings per share of 30 cents on a fully diluted basis for the quarter ended Sept. 30, an increase of 3 cents or 11.1 percent over the 27 cents reported for the same period in 2003.

Net income for the third quarter was $2.2 million, an increase of $204,000 or 10.1 percent over the $2 million posted in the third quarter of 2003. Both earnings per share and net income reported by the company for 2004 set new single-quarter records. All prior period results in this release have been adjusted to reflect the three-for-one stock split in 2004.

The company also announced earnings per share of 83 cents on a fully diluted basis for the nine months ended Sept. 30, an increase of 10 cents or 13.7 percent over the 73 cents reported for the same period in 2003. Net income for the first nine months of 2004 was $6.2 million, an increase of $777,000 or 14.3 percent over the $5.4 million posted in 2003. Both earnings per share and net income reported by the company for 2004 set new records for the first nine months of the year.

On Aug. 26 the company announced the signing of a definitive agreement for the merger of FNB Bankshares of Bar Harbor.