<SUBMISSION>
<ACCESSION-NUMBER>0000912057-02-001411
<TYPE>8-K
<PUBLIC-DOCUMENT-COUNT>2
<PERIOD>20011231
<ITEMS>5
<ITEMS>7
<FILING-DATE>20020115
<FILER>
<COMPANY-DATA>
<CONFORMED-NAME>NORTHRIM BANCORP INC
<CIK>0001163370
<ASSIGNED-SIC>
<IRS-NUMBER>920175752
<STATE-OF-INCORPORATION>AK
<FISCAL-YEAR-END>1231
</COMPANY-DATA>
<FILING-VALUES>
<FORM-TYPE>8-K
<ACT>34
<FILE-NUMBER>000-33501
<FILM-NUMBER>2509744
</FILING-VALUES>
<BUSINESS-ADDRESS>
<STREET1>P O BOX 241489
<CITY>ANCHORAGE
<STATE>AK
<ZIP>99524-1489
</BUSINESS-ADDRESS>
</FILER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>a2067874z8-k.htm
<DESCRIPTION>FORM 8-K
<TEXT>
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<P ALIGN="CENTER"><FONT SIZE=5><B>SECURITIES AND EXCHANGE COMMISSION<BR>  </B></FONT><FONT SIZE=2><B>Washington, D.C. 20549  </B></FONT></P>

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<P ALIGN="CENTER"><FONT SIZE=5><B>FORM 8-K  </B></FONT></P>

<P ALIGN="CENTER"><FONT SIZE=4><B>Current Report  </B></FONT></P>

<P ALIGN="CENTER"><FONT SIZE=3><B>Pursuant to Section&nbsp;13 or 15(d) of<BR>
The Securities Exchange Act of 1934  </B></FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2>Date of Report (Date of Earliest Event Reported) </FONT> <FONT SIZE=2><B>December&nbsp;31, 2001  </B></FONT></P>

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<TD WIDTH="22%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="51%" ALIGN="CENTER"><FONT SIZE=5><B>Northrim BanCorp,&nbsp;Inc.</B></FONT><HR NOSHADE><FONT SIZE=2>(Exact name of registrant as specified in its charter)</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="22%"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
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<TD WIDTH="49%" ALIGN="CENTER"><FONT SIZE=2><B>Alaska</B></FONT><HR NOSHADE><FONT SIZE=2>(State or other jurisdiction of<BR>
incorporation or organization)</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="49%" ALIGN="CENTER"><FONT SIZE=2><B>92-0175752</B></FONT><HR NOSHADE><FONT SIZE=2>(I.R.S. Employer Identification No.)</FONT></TD>
</TR>
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<TD WIDTH="23%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="50%" ALIGN="CENTER"><FONT SIZE=2><B>3111 C Street, Anchorage, Alaska 99503</B></FONT><HR NOSHADE><FONT SIZE=2>(Address of principal executive offices) (ZIP Code)</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="23%"><FONT SIZE=2>&nbsp;</FONT></TD>
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<P ALIGN="CENTER"><FONT SIZE=2>Registrant's
telephone number, including area code </FONT> <FONT SIZE=2><B>(907)&nbsp;562-0062  </B></FONT></P>

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<P><FONT SIZE=2><B>Item 5. Other Events and Regulation FD Disclosure  </B></FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Effective as of the close of business on December&nbsp;31, 2001, Northrim Bank (the "Bank") became the wholly-owned subsidiary of a new bank holding company,
Northrim BanCorp,&nbsp;Inc. (the "Registrant"), via the merger of the Bank with the wholly-owned interim bank subsidiary of Registrant (the "Reorganization"). Pursuant to the Reorganization,
shareholders of Bank common stock received one share of Registrant common stock for each share of Bank common stock held. A press release issued in connection with the consummation of the
Reorganization is attached hereto as Exhibit&nbsp;99.1 and is incorporated herein by reference. </FONT></P>


<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Effective
January&nbsp;14, 2002, Registrant became a reporting company registered under the Securities and Exchange Act of 1934 with the Securities and Exchange Commission. </FONT></P>

<P><FONT SIZE=2><B>Item 7. Financial Statements and Exhibits  </B></FONT></P>

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<TH WIDTH="8%" ALIGN="CENTER"><FONT SIZE=1><B>Exhibit</B></FONT><HR NOSHADE></TH>
<TH WIDTH="3%"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="89%" ALIGN="CENTER"><FONT SIZE=1><B>Description</B></FONT><HR NOSHADE></TH>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="8%" ALIGN="CENTER"><FONT SIZE=2>99.1</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="89%"><FONT SIZE=2>Press Release dated January&nbsp;8, 2002.</FONT></TD>
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<P ALIGN="CENTER"><FONT SIZE=2><A
NAME="be1013_signatures"> </A>
<A NAME="toc_be1013_1"> </A>
<BR></FONT><FONT SIZE=2><B>SIGNATURES    <BR>  </B></FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;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,
thereunto duly authorized. </FONT></P>

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<TD WIDTH="46%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=2><FONT SIZE=2><B>NORTHRIM BANCORP, INC. </B></FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="46%"><FONT SIZE=2><BR>
DATE: January 15, 2002</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="5%"><FONT SIZE=2><BR>
BY:</FONT></TD>
<TD WIDTH="46%"><FONT SIZE=2><BR>
/s/&nbsp;&nbsp;</FONT><FONT SIZE=2>R. MARC LANGLAND </FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><HR NOSHADE><FONT SIZE=2> R. Marc Langland<BR></FONT> <FONT SIZE=2><I>Chief Executive Officer </I></FONT></TD>
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<FONT SIZE=2><A HREF="#toc_be1013_1">SIGNATURES</A></FONT><BR>

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<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>3
<FILENAME>a2067874zex-99_1.htm
<DESCRIPTION>EXHIBIT 99-1
<TEXT>
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<P ALIGN="RIGHT"><FONT SIZE=2><A
NAME="ma1013_exhibit_99.1"> </A>
<A NAME="toc_ma1013_1"> </A>
<BR></FONT><FONT SIZE=2><B>Exhibit 99.1    <BR>  </B></FONT></P>

<P><FONT SIZE=5><B>NORTHRIM NEWS</B></FONT></P>

<P><FONT SIZE=2>Headquarters:
3111 C Street, Anchorage, AK 99503 </FONT></P>

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<TD WIDTH="2%">&nbsp;</TD>
<TD WIDTH="66%"><FONT SIZE=2><I>For Immediate Release</I></FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="9%"><FONT SIZE=2>Date:</FONT></TD>
<TD WIDTH="1%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="19%"><FONT SIZE=2>January&nbsp;8, 2002</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="9%"><FONT SIZE=2>Contact:</FONT></TD>
<TD WIDTH="1%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="19%"><FONT SIZE=2>Chris Knudson</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="9%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="1%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="19%"><FONT SIZE=2>EVP&nbsp;&amp; COO<BR>
(907)&nbsp;261-3304</FONT></TD>
</TR>
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<P ALIGN="CENTER"><FONT SIZE=2><B><U>Northrim Bank Becomes A Wholly Owned Subsidiary of New Holding Company:</U><BR>
<U>Northrim BanCorp,&nbsp;Inc.</U></B></FONT></P>

<P><FONT SIZE=2>ANCHORAGE,
Alaska&#151;January&nbsp;8, 2002&#151;On Dec.&nbsp;31, 2001, Northrim Bank completed its reorganization into a wholly owned subsidiary of a new holding company, Northrim
BanCorp,&nbsp;Inc., (Nasdaq: NRIM). Effective Jan.&nbsp;1, 2002, Northrim BanCorp,&nbsp;Inc., shares of common stock began trading on Nasdaq under the symbol NRIM, in place of Northrim Bank
shares of common stock that had been traded under the same stock symbol. </FONT></P>

<P><FONT SIZE=2>Under
the terms of the reorganization, each Northrim Bank shareholder owns one share of Northrim BanCorp,&nbsp;Inc., common stock for each share of Northrim Bank common stock owned. Northrim Bank
and Northrim BanCorp,&nbsp;Inc., with the assistance of American Stock Transfer&nbsp;&amp; Trust Company, are exchanging certificates of Northrim Bank common stock for certificates of Northrim
BanCorp,&nbsp;Inc., common stock. </FONT></P>

<P><FONT SIZE=2>The
existing executive officers and directors of Northrim Bank are serving as the executive officers and directors of Northrim BanCorp,&nbsp;Inc., and the business of Northrim Bank will continue as
it did prior to the reorganization. </FONT></P>

<P><FONT SIZE=2>"At
the Northrim Bank Annual Meeting in May&nbsp;2001, our shareholders voted to approve the formation of the new holding company," said Marc Langland, chairman, president and CEO. "We anticipate
that our new structure will allow us to enhance the value of our shares, as we will have more opportunities to expand our products and services, the flexibility to respond to changes in banking laws,
and will be better positioned to provide capital to support growth of the company. We look forward to realizing the benefits of the holding company, while the bank continues to operate as usual." </FONT></P>

<P><FONT SIZE=2>Northrim
Bank shareholders can expect to receive information regarding the exchange of their stock certificates in the mail, and should complete the requested forms and return them with their current
certificates of Northrim Bank common stock, as instructed. </FONT></P>

<P><FONT SIZE=2>Northrim
Bank is a full-service commercial bank that provides a full range of personal and business banking services. With locations in Anchorage, Eagle River, Wasilla and Fairbanks,
Alaska, Northrim Bank differentiates itself from its competitors by its "Customer First Service" philosophy. Northrim Bank is a wholly owned subsidiary of Northrim BanCorp,&nbsp;Inc. </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2><U>www.northrim.com</U> </FONT></P>

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<P><FONT SIZE=2>
Page 2&#151;Jan.&nbsp;8, 2002&#151;Northrim Bank Becomes Wholly Owned Subsidiary of New Holding Company </FONT></P>


<P><FONT SIZE=2><I>This press release includes "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on
management's beliefs and assumptions based on currently available information, and we will not update these statements except as required by the
Securities Exchange Act of 1934, as amended, and the rules promulgated thereunder. All statements other than statements of historical fact regarding our financial position, business strategy and
management's plans and objectives for future operations are forward-looking statements. When used in this release, the words "believe," "expect," "intend," and "should" and words or phrases of similar
meaning, as they relate to Northrim or its management, are intended in part to help identify forward-looking statements. Although we believe management's expectations as reflected in forward-looking
statements are reasonable, we cannot assure readers that those expectations will prove to be correct. Predictions about future events are subject to various risks and uncertainties that may cause our
actual results to differ materially and adversely from our expectations as indicated in this release. These risks and uncertainties that will affect the holding company reorganization will include the
anticipated benefits of the reorganization and the need to obtain regulatory and shareholder approvals in a timely fashion. You should be aware that these factors are not an exhaustive list, and you
should not assume these are the only factors that may cause our actual results to differ from our expectations.</I></FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2>### </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2>2</FONT></P>

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<FONT SIZE=2><A HREF="#toc_ma1013_1">Exhibit 99.1</A></FONT><BR>

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