8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON,  D.C. 20549 

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of Earliest Event Reported): March 24, 2014 (March 20, 2014)

Northrim BanCorp, Inc.

__________________________________________

(Exact name of registrant as specified in its charter)

Alaska	0-33501	92-0175752
________________________ (State or other jurisdiction	_____________ (Commission	_________________ (I.R.S. Employer
of incorporation)	File Number)	Identification No.)
3111 C Street,  Anchorage,  Alaska		99503
___________________________________ (Address of principal executive offices)		___________ (Zip Code)

Registrant’s telephone number, including area code: 907-562-0062

Not Applicable

___________________________________________________

Former name or former address, if changed since last report

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: 

[  ]  Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

[  ]  Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

[  ]  Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

[  ]  Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

(d) On March 20, 2014, the Board of Directors of Northrim BanCorp, Inc. (the "Company") and its wholly owned subsidiary, Northrim Bank (the "Bank"), elected Karl M. Hanneman to serve on their respective boards, until the 2014 Annual Shareholders’ Meeting or until a successor has been elected and qualified.

Mr. Hanneman's appointment to the boards of the Company and the Bank were disclosed publicly on March 24, 2014. A copy of the press release is attached hereto as Exhibit 99.1

Item 9.01 Financial Statements and Exhibits.

(a) Financial statements – not applicable.

(b) Proforma financial information – not applicable.

Exhibit No.	Description
99.1	Press Release dated March 24, 2014 announcing the election of Karl M. Hanneman to the Board of Directors of Northrim BanCorp, Inc. and its subsidiary, Northrim Bank.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	Northrim BanCorp, Inc.
March 24, 2014	By:	/s/ Joseph M. Schierhorn
		Name: Joseph M. Schierhorn
		Title: EVP, CFO, and COO

Exhibit Index

Exhibit No.	Description
99.1	Press Release dated March 24, 2014 announcing the election of Karl M. Hanneman to the Board of Directors of Northrim BanCorp, Inc. and its subsidiary, Northrim Bank.

EX-99.1

Exhibit 99.1

Contact:     Joe Schierhorn, Chief Financial Officer and Chief Operating Officer

(907) 261-3308

NEWS RELEASE

Northrim BanCorp, Inc. Appoints Karl Hanneman to Board of Directors

ANCHORAGE, AK-March 24, 2014,-Northrim BanCorp, Inc. (NASDAQ: NRIM) today announced its Board of Directors appointed Karl Hanneman to serve on its Board of Directors effective immediately.

“Karl’s deep roots in Alaska and his extensive ties to our business community are welcome additions to our board of directors,” said Marc Langland, Northrim BanCorp Chairman. “His experience in the natural resources sector, particularly the mining industry, will be a valuable addition to our leadership team.”

Hanneman brings to Northrim 33 years of experience in the mining industry in Alaska as a manager, mining engineer, mine operator and entrepreneur. The last three years he has served as General Manager for the Livengood Gold Project, a large gold deposit in interior Alaska that has transitioned from the exploration drilling stage and is now proceeding through project design and feasibility study. Formerly he worked for Teck Resources, Inc., where he served as Director of Corporate Affairs, and Alaska Regional Manager for the Pogo Gold project.

Currently, he serves as the Governor’s appointee to the Alaska Minerals Commission, as a Director for the Resource Development Council, a Director for the Fairbanks Chamber of Commerce and a Director for Usibelli Coal Mine, Inc. Hanneman is very active in the Fairbanks community, serving on many boards and working with community service organizations. He was a founding parent and Treasurer of The Chinook Charter School, Inc. for many years and is a member of the Pioneers of Alaska.

Hanneman earned a Bachelor of Science degree in Mining Engineering, graduating magna cum laude, from the University of Alaska and was the recipient of the Joel Wiegert Award for the Outstanding Graduating Senior Male for the class of 1979.

About Northrim BanCorp

Northrim BanCorp, Inc. is the parent company of Northrim Bank, an Alaska-based community bank with ten branches in Anchorage, the Matanuska Valley, and Fairbanks serving 70% of Alaska’s population; and an asset based lending division in Washington. The Bank differentiates itself with its detailed knowledge of Alaska’s economy and its “Customer First Service” philosophy. Affiliated companies include Elliott Cove Insurance Agency, LLC; Elliott Cove Capital Management, LLC; Residential Mortgage, LLC; Northrim Benefits Group, LLC; and Pacific Wealth Advisors, LLC.

www.northrim.com

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Transmitted on Globe Newswire on March 24, 2014, at 12:31p.m. Alaska Time.