<SUBMISSION>
<ACCESSION-NUMBER>0000891020-02-001338
<TYPE>8-K
<PUBLIC-DOCUMENT-COUNT>2
<PERIOD>20020905
<ITEMS>5
<ITEMS>7
<FILING-DATE>20020912
<FILER>
<COMPANY-DATA>
<CONFORMED-NAME>NORTHRIM BANCORP INC
<CIK>0001163370
<ASSIGNED-SIC>6189
<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>02762306
</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>v84405e8vk.htm
<DESCRIPTION>FORM 8-K
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<TITLE>Form 8-K for Northrim Bancorp, Inc.</TITLE>
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<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<P align="center"><FONT size="2">UNITED STATES<BR>
SECURITIES AND EXCHANGE COMMISSION</FONT>

<P align="center"><FONT size="2">Washington, D.C. 20549</FONT>

<P align="center"><FONT size="2"><B>FORM 8-K</B></FONT>

<P align="center"><FONT size="2">CURRENT REPORT</FONT>

<P align="center"><FONT size="2">Pursuant to section 13 or 15(d) of<BR>
The Securities Exchange Act of 1934</FONT>

<P align="center"><FONT size="2">Date of Report (Date of earliest event reported): September&nbsp;5, 2002</FONT>

<P align="center"><FONT size="2"><B>Northrim BanCorp, Inc.</B></FONT>

<HR width="26%" align="center" size="1" noshade>

<DIV align="center"><FONT size="2">(Exact name of registrant as specified in its charter)</FONT></DIV>

<P align="center"><FONT size="2"><B>Alaska</B></FONT>

<HR width="26%" align="center" size="1" noshade>


<DIV align="center"><FONT size="2">(State or other jurisdiction of incorporation)</FONT></DIV>

<TABLE cellspacing="0" border="0" cellpadding="0" width="100%">
<TR valign="bottom">
        <TD width="50%">&nbsp;</TD>
        <TD width="5%">&nbsp;</TD>
        <TD width="45%">&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD align="center" valign="top"><FONT size="2">000-33501</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="center" valign="top"><FONT size="2">92-0175752</FONT></TD>
</TR>
<TR>
        <TD align="center" valign="top"><HR size="1" noshade></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="center" valign="top"><FONT size="2"><HR size="1" noshade></FONT></TD>
</TR>
<TR valign="bottom">
        <TD align="center" valign="top"><FONT size="2">(Commission File Number)</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="center" valign="top"><FONT size="2">(IRS Employer Identification No.)</FONT></TD>
</TR>
</TABLE>
<P align="center"><FONT size="2"><B>3111 C Street<BR>
Anchorage, AK 99503</B><BR>
(Address of principal executive offices) (Zip Code)</FONT>

<P align="center"><FONT size="2"><B>(907)&nbsp;562-0062</B><BR>
(Registrant&#146;s telephone number, including area code)</FONT>

<P align="center"><FONT size="2">&nbsp;
</FONT>

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<!-- TOC -->
<A name="toc"><DIV align="CENTER" style="page-break-before:always"><U><B>TABLE OF CONTENTS</B></U></DIV></A>

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</TR>
<TR><TD></TD><TD colspan="8"><A HREF="#000">Item&nbsp;5. Other Events</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#001">Item&nbsp;7. Financial Statements and Exhibits</A></TD></TR>
<TR><TD colspan="9"><A HREF="#002">SIGNATURES</A></TD></TR>
<TR><TD colspan="9"><A HREF="v84405exv99wc.htm">Exhibit 99.C</A></TD></TR>
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<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>


<P align="center"><FONT size="2"><B>FORM 8-K<BR><BR>
NORTHRIM BANCORP, INC.<BR>
Anchorage, Alaska</B></FONT>

<!-- link2 "Item&nbsp;5. Other Events" -->
<DIV align="left"><A NAME="000"></A></DIV>
<P align="left"><FONT size="2"><B>Item&nbsp;5. Other Events</B></FONT>

<P><FONT size="2">Northrim BanCorp, Inc. announced today that its Board of Directors has approved
a stock repurchase program authorizing the repurchase of up to 306,372 shares
of the Company&#146;s common stock, representing approximately 5% of the Company&#146;s
current outstanding shares.
</FONT>
<P><FONT size="2">A copy of Northrim&#146;s News Release containing the announcement is attached as an
exhibit to this report.
</FONT>
<!-- link2 "Item&nbsp;7. Financial Statements and Exhibits" -->
<DIV align="left"><A NAME="001"></A></DIV>
<P align="left"><FONT size="2"><B>Item&nbsp;7. Financial Statements and Exhibits</B></FONT>

<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
   <TD width="1%" align="right" nowrap><FONT size="2">(a)</FONT></TD>
   <TD width="1%" nowrap><FONT size="2">&nbsp;&nbsp;</FONT></TD>
   <TD width="98%"><FONT size="2">Financial statements &#151; not applicable</FONT></TD>
</TR>
<TR>
        <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR valign="top">
   <TD width="1%" align="right" nowrap><FONT size="2">(b)</FONT></TD>
   <TD width="1%" nowrap><FONT size="2">&nbsp;&nbsp;</FONT></TD>
   <TD width="98%"><FONT size="2">Pro forma financial information &#151; not applicable</FONT></TD>
</TR>
<TR>
        <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR valign="top">
   <TD width="1%" align="right" nowrap><FONT size="2">(c)</FONT></TD>
   <TD width="1%" nowrap><FONT size="2">&nbsp;&nbsp;</FONT></TD>
   <TD width="98%"><FONT size="2">Exhibits: News Release issued by Northrim BanCorp, Inc. dated September
12, 2002</FONT></TD>
</TR>
</TABLE>
<!-- link1 "SIGNATURES" -->
<DIV align="left"><A NAME="002"></A></DIV>
<P align="center"><FONT size="2"><B>SIGNATURES</B></FONT>

<P><FONT size="2">&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 hereunto duly authorized.
</FONT>
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        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD colspan="2"><FONT size="2">NORTHRIM BANCORP, INC.</FONT></TD>
</TR>

<TR><TD>&nbsp;<BR>&nbsp;</TD></TR>
<TR valign="top">
        <TD><FONT size="2">Date: September&nbsp;12, 2002</FONT></TD>
        <TD><FONT size="2">By:&nbsp;</FONT></TD>
        <TD align="left"><FONT size="2">/s/ R. Marc Langland</FONT></TD>
</TR>
<TR>
        <TD colspan="2"><FONT size="1">&nbsp;</FONT></TD>
        <TD><HR size="1" noshade color="#000000"></TD>
</TR>
<TR valign="top">
        <TD colspan="2">&nbsp;</TD>
        <TD><FONT size="2">R. Marc Langland<BR>
Chairman, President &#038; CEO</FONT></TD>
</TR>
</TABLE>

<P align="center"><FONT size="2">2
</FONT>

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<DOCUMENT>
<TYPE>EX-99.C
<SEQUENCE>3
<FILENAME>v84405exv99wc.htm
<DESCRIPTION>EXHIBIT 99.C
<TEXT>
<HTML>
<HEAD>
<TITLE>News Release dated September 12, 2002</TITLE>
</HEAD>
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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<P align="right"><FONT size="2">Exhibit 99.C
</FONT>

<P><FONT size="5"><B>Northrim News</B></FONT>

<DIV><FONT size="2">Headquarters: 3111 C Street, Anchorage, AK 99503
</FONT></DIV>

<CENTER>
<TABLE cellspacing="0" border="0" cellpadding="0" width="85%">
<TR valign="bottom">
        <TD width="42%">&nbsp;</TD>
        <TD width="5%">&nbsp;</TD>
        <TD width="12%">&nbsp;</TD>
        <TD width="5%">&nbsp;</TD>
        <TD width="36%">&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD valign="top"><FONT size="2"><B><I>For Immediate Release</I></B></FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">Date:</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">Sept. 12, 2002</FONT></TD>
</TR>

<TR valign="bottom">
        <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">Contact:</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">Chris Knudson<BR>EVP &#038; COO</FONT></TD>
</TR>

<TR valign="bottom">
        <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">Phone:</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">(907) 261-3304</FONT></TD>
</TR>
</TABLE>
</CENTER>

<P align="center"><FONT size="2"><B>Northrim BanCorp, Inc. Approves Stock Repurchase Plan</B></FONT>

<P><FONT size="2">Anchorage, AK&#151;Sept. 12, 2002&#151;Northrim BanCorp, Inc. (Nasdaq: NRIM), the holding
company of Northrim Bank, announced today that its board of directors has approved a stock repurchase program.
</FONT>
<P><FONT size="2">Under the stock repurchase program, Northrim may repurchase up to 306, 372 of its outstanding shares of
common stock. Those shares represent approximately 5% of the common shares currently outstanding.
Northrim intends to purchase the shares from time to time in the open market or in private transactions,
under conditions which allow such repurchases to be accretive to earnings while maintaining capital
ratios that exceed the guidelines for a well-capitalized financial institution.
</FONT>
<P><FONT size="2">&#147;The stock repurchase program should allow us to more effectively leverage our assets
and should have a favorable impact on earnings per share and return on shareholders&#146;
equity,&#148; said Chris Knudson, executive vice president and chief operating officer. &#147;We are
pleased that our strong capital position and profitability allow us to initiate this plan.
The extent to which we repurchase shares will depend on a number of factors, including market
trends, prices, and economic conditions.&#148;
</FONT>
<P><FONT size="2">Northrim BanCorp, Inc. is the parent company of Northrim Bank. 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 with a &#147;Customer First Service&#148; philosophy.
</FONT>
<P align="center"><FONT size="2">www.northrim.com</FONT>

<P><FONT size="2"><I>This release includes &#147;forward-looking statements&#148; as that term is defined in
the Private Securities Litigation Reform Act of 1995. Forward-looking
statements are based on management&#146;s beliefs and assumptions based on currently
available information, and we have not undertaken to 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&#146;s plans and objectives for future operations are forward-looking
statements. When used in this report, the words &#147;anticipate,&#148; &#147;believe,&#148;
&#147;estimate,&#148; &#147;expect,&#148; and &#147;intend&#148; and words or phrases of similar meaning, as
they relate to Northrim or management, are intended to help identify
forward-looking statements. Although we believe that management&#146;s expectations
as reflected in forward-looking statements are reasonable, we cannot assure
readers that those expectations will prove to be correct. Forward-looking
statements are subject to various risks and uncertainties that may cause our
actual results to differ materially and adversely from our expectations as
indicated in the forward-looking statements. These risks and uncertainties
include our ability to maintain or expand our market share or net interest
margins, and to implement our marketing and growth strategies. Further, actual
results may be affected by our ability to compete on price and other factors
with other financial institutions; customer acceptance of new products and
services; the regulatory environment in which we operate; and general trends in
the local, regional and national banking industry and economy as those factors
relate to our cost of funds and return on assets. In addition, there are risks
inherent in the banking industry relating to collectibility of loans and
changes in interest rates. Many of these risks, as well as other risks that
may have a material adverse impact on our operations and business, are
identified in our other filings with the SEC and the FDIC. However, 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 align="center"><FONT size="2">###</FONT>


<P align="center"><FONT size="2">&nbsp;
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