EXHIBIT 99.1
                     PRESS RELEASE DATED SEPTEMBER 21, 2007

FOR IMMEDIATE RELEASE                               Contact:  Carroll A. Pereira
                                                                  (860) 567-2674

                FIRST LITCHFIELD FINANCIAL CORPORATION ANNOUNCES
                            STOCK REPURCHASE PROGRAM

Litchfield,  Connecticut,  September 21,  2007--The  Board of Directors of First
Litchfield   Financial    Corporation    (Trading   Symbol:    "FLFL.OB")   (the
"Corporation"),  the parent  company of The First  National  Bank of  Litchfield
announced that it has authorized a stock repurchase  program to acquire up to an
aggregate of 30,000 shares of the outstanding  common stock of the  Corporation.
The program will be dependent upon market conditions,  and there is no assurance
as to the exact number of shares to be repurchased by the Corporation.

President Greco stated that the Board of Directors has authorized the repurchase
program,  which is  expected  to be  completed  within a year.  President  Greco
explained that the Board of Directors  considers the Corporation's  common stock
to be an  attractive  investment  and that  repurchases  should  help to enhance
shareholder  value while  maintaining the  Corporation's  designation as a "well
capitalized"  institution  and  assuring  adequate  capital  for the current and
foreseeable  future  needs of the  Corporation  and its  subsidiary,  The  First
National Bank of Litchfield.

President  Greco  indicated  that the  repurchases  generally  will be  effected
through open market  purchases,  although he did not rule out the possibility of
negotiated transactions or other types of repurchases.

Statements  contained in this news release  contain  forward-looking  statements
within the  meaning of the  Private  Securities  Litigation  Reform Act of 1995.
These statements are based on the beliefs and expectations of management as well
as the  assumption  made using  information  currently  available to management.
Since these statements reflect the views of management concerning future events,
these statements involve risks, uncertainties and assumptions,  including, among
others:  changes in market  interest  rates and  general and  regional  economic
conditions; changes in government regulations; changes in accounting principles;
and the quality or composition  of the loan and investment  portfolios and other
factors  that may be described in the  Corporation's  quarterly  reports on Form
10-Q and its annual  report on Form 10-K,  each  filed with the  Securities  and
Exchange  Commission,  which  are  available  at  the  Securities  and  Exchange
Commission's  internet  website  (www.sec.gov)  and to which reference is hereby
made.  Therefore,  actual future results may differ  significantly  from results
discussed in the forward-looking statements.

The First National Bank of Litchfield is a community bank operating full service
banking  offices  in Canton,  Goshen,  Litchfield,  Marble  Dale,  New  Milford,
Roxbury,  Washington  and  Torrington.  The Bank  maintains a full service Trust
department that offers asset management,  custody and estate settlement services
to  individuals,  non-profit and commercial  customers.  Additionally,  the Bank
offers nondeposit retail investment products such as mutual funds, annuities and
insurance  through its relationship  with Infinex  Investments,  Inc. The Bank's
subsidiary,  First  Litchfield  Leasing  Corporation,   provides  middle  market
equipment  leasing/financing,  to the  commercial  markets  of  Connecticut  and
Massachusetts. The Company's website address is www.fnbl.com.
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