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): August 18, 2011

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 8.01 Other Events.

On August 30, 2011, Northrim Bank (the "Bank"), the wholly owned subsidiary of Northrim BanCorp, Inc., announced by press release the appointment of its President, Joseph M. Beedle, as the Bank’s Chief Executive Officer and his appointment to the Bank’s Board of Directors, effective August 18, 2011, increasing the number of the Bank’s directors from 11 to 12. As part of the Bank’s succession plan, R. Marc Langland is stepping down as the Chief Executive Officer of the Bank, effective August 18, 2011, but will remain Chairman of the Board, President and Chief Executive Officer of Northrim BanCorp, Inc. and Chairman of the Board of Northrim Bank.

Mr. Beedle also serves as Executive Vice President of Northrim BanCorp, Inc., a position he has held since 2006. Mr. Beedle served as Executive Vice President and Chief Lending Officer of the Bank from 2006 until his appointment as President of Northrim Bank in 2009. As the Bank’s President and Chief Executive Officer, Mr. Beedle will retain primary responsibility for lending.

Attached as Exhibit 99.1 is the press release issued on August 30, 2011, announcing Mr. Beedle’s appointment as Chief Executive Officer of Northrim Bank and Mr. Beedle’s appointment to the Board of Directors of Northrim Bank.

This information is being furnished pursuant to Item 8.01 of Form 8-K and shall not be deemed "filed" for purposes of Section 18 of the Securities and Exchange Act of 1934, as amended (the "Exchange Act"), or incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.

Item 9.01 Financial Statements and Exhibits.

(a) Financial statements – not applicable.

(b) Proforma financial information – not applicable.

(c) EXHIBITS DESCRIPTION

99.1 Press Release dated August 30, 2011 announcing the appointment of
Joseph M. Beedle as the Chief Executive Officer of Northrim Bank
and Mr. Beedle's appointment to the Board of Directors of
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.
August 30, 2011	By:	Joseph M. Schierhorn
		Name: Joseph M. Schierhorn
		Title: Executive Vice President, Chief Financial Officer

Exhibit Index

Exhibit No.	Description
99.1	Press Release dated August 30, 2011 announcing the appointment of Joseph M. Beedle as the Chief Executive Officer of Northrim Bank and Mr. Beedle's appointment to the Board of Directors of Northrim Bank.

EX-99.1

EXHIBIT 99.1

Northrim News
Contact: Blythe Campbell, SVP Marketing and Communications, 907 261 3302

Northrim Bank President Joe Beedle Named CEO; Elected to Board of Directors

ANCHORAGE, AK – August 30, 2011. Northrim Bank, a wholly-owned subsidiary of Northrim BanCorp, Inc. (NASDAQ: NRIM), has named Joe Beedle as chief executive officer of the bank in addition to his title as president. Beedle was also elected to the Northrim Bank Board of Directors, increasing the number of bank directors to 12.

Marc Langland, one of Northrim’s founders, will remain chairman, president, and chief executive officer of the holding company and chairman of the bank. “With this change, the company continues to execute its strategic plan for management succession,” said Langland. “In addition to his extensive banking experience, Joe’s commitment to customers, employees and the community match Northrim’s values and approach to doing business.”

Beedle has been president of the bank since August 2009. He has primary responsibility for lending; marketing and sales; and facilities; and will continue to serve on the executive team responsible for day-to-day management of the bank.

Beedle was chief financial officer for the University of Alaska system for six years. He served as president and chief executive officer of Goldbelt, Inc., an Alaska Native corporation, for six years prior to taking the university position. Beedle has more than 25 years of banking experience, including 15 in an executive lending role, having served as executive vice president and chief credit officer for Key Bank of Alaska, and vice president and commercial loan administrator for First Bank Ketchikan, Alaska. He also had earlier banking experience with First National Bank of Fairbanks and National Bank of Alaska.

A resident of Alaska since 1964, Beedle earned a Bachelor’s degree in Business Administration and Finance from the University of Alaska in Fairbanks. He is also a graduate of the Pacific Coast Banking School at the University of Washington.

Beedle is a respected community leader currently serving as a board member and past president of Commonwealth North, and president of the Alaska Banker’s Association. He serves on the Junior Achievement Business Hall of Fame selection committee, the Small Business Development Center advisory board, the University of Alaska Institute of Social and Economic Research Advisory Board, the board of the Alaska Council on Economic Education and the State of Alaska Commerce Commissioner’s Advisory Board. Beedle has been married for 39 years and is the father of two adult children.

About Northrim BanCorp
Northrim BanCorp, Inc. is the parent company of Northrim Bank, a commercial bank that provides personal and business banking services through locations in Anchorage, Eagle River, Wasilla, and Fairbanks, Alaska, and an asset based lending division in Washington. The bank differentiates itself with a “Customer First Service” philosophy. Affiliated companies include Elliott Cove Capital Management, LLC; Residential Mortgage, LLC; Northrim Benefits Group, LLC; and Pacific Wealth Advisors, LLC. 

www.northrim.com