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  <TITLE> Northrim BanCorp, Inc. (Form: 8-K) </TITLE>
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  		UNITED STATES<BR>
  	SECURITIES AND EXCHANGE COMMISSION
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  <BR>
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  	WASHINGTON, D.C. 20549
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  	FORM 8-K
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  	CURRENT REPORT
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  	Pursuant to Section&nbsp;13 or 15(d) of the Securities Exchange Act of 1934
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  	Date of Report (Date of Earliest Event Reported):
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  	&nbsp;
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  	May 19, 2006
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  	Northrim BanCorp, Inc.
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  <BR>__________________________________________<BR>
  	(Exact name of registrant as specified in its charter)
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  	Alaska
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  	0-33501
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  	92-0175752
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  _____________________<BR>
  	(State or other jurisdiction
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  _____________<BR>
  	(Commission
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  ______________<BR>
  	(I.R.S. Employer
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  	of incorporation)
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  	File Number)
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  	Identification No.)
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  	&nbsp;&nbsp;
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  	3111 C Street, Anchorage, Alaska
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  	&nbsp;
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  	99503
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  _________________________________<BR>
  	(Address of principal executive offices)
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  	&nbsp;
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  ___________<BR>
  	(Zip Code)
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  	Registrant&#146;s telephone number, including area code:
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  	&nbsp;
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  	907-562-0062
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  	Not Applicable
  <BR>______________________________________________<BR>
  	Former name or former address, if changed since last report
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  	&nbsp;
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  <!-- CoverPageRegistrant END --><P><FONT SIZE="2">
  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:</FONT>
  </P>
  <P><FONT SIZE="2">
  [&nbsp;&nbsp;]&nbsp;&nbsp;Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)<br>
  [&nbsp;&nbsp;]&nbsp;&nbsp;Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)<br>
  [&nbsp;&nbsp;]&nbsp;&nbsp;Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))<br>
  [&nbsp;&nbsp;]&nbsp;&nbsp;Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))<br>
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  <FONT SIZE="2">Top of the Form</FONT>
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  <B>
  	Item 1.01 Entry into a Material Definitive Agreement.
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         The information set forth under Item 5.02, "Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers," is incorporated herein by reference.
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  	Item 5.02 Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers.
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  (c)	On May 19, 2006, Northrim BanCorp, Inc. announced the appointment of Joseph M. Beedle as executive vice president and chief lending officer of Northrim BanCorp, Inc. and its subsidiary, Northrim Bank, effective May 15, 2006.  <br><br>	Mr. Beedle, age 54, previously served as chief financial officer of  University of Alaska, from 2000 until April 2006, and as chief executive of Goldbelt, Incorporated., an Alaska native corporation, from 1994 to 2000.  Mr. Beedle has more than 20 years of banking experience, including in an executive lending role, having served as executive vice president and chief credit officer for Key Bank of Alaska from 1985 to 1993 and as vice president and commercial loan administrator for First Bank, Ketchikan, Alaska from 1980 to 1985. <br><br>	Northrim BanCorp, Inc. and Mr. Beedle have entered into an employment agreement under which Mr. Beedle will receive an annual base salary of $195,000, as adjusted from time to time, and a bonus based on the company&#x2019;s financial performance.  The agreement is effective through December 31, 2006 and renews for a one year term automatically each year unless notice of termination is provided not later than ninety (90) days prior to the expiration of the term.  The agreement provides Mr. Beedle with severance and change of control benefits, including an excise tax gross-up benefit.  Mr. Beedle is prohibited from competing with the company for a period of one year following his departure from the company for whatever reason.  The agreement provides that upon commencement of employment with the company, Mr. Beedle will be granted 1,500 restricted units under the company&#x2019;s stock incentive plan.  The agreement also provides benefits for Mr. Beedle under the company&#x2019;s Supplemental Executive Retirement Plan and Deferred Compensation Plan. <br>	<br>	A copy of Mr. Beedle&#x2019;s employment agreement is filed as exhibit 10.1 to this Form 8-K.<br>
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  <B>
  	Item 8.01 Other Events.
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           Attached as Exhibit 99.1 is a press release issued on May 19, 2006 announcing the appointment of Mr. Beedle as executive vice president and chief lending officer of Northrim BanCorp, Inc. and its subsidiary Northrim Bank.
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  <B>
  	Item 9.01 Financial Statements and Exhibits.
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  (a)	Not applicable.<br>(b)	Not applicable.<br>(c)	Exhibits.<br>        10.1 Employment Agreement with Joseph M. Beedle.<br>        99.1 Press Release dated May 19, 2006 announcing the appointment of Joseph  M. Beedle as executive vice president and chief lending officer of Northrim BanCorp, Inc. and its subsidiary, Northrim Bank.
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  	SIGNATURES
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  	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.
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  	Northrim BanCorp, Inc.
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  	&nbsp;&nbsp;
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  <I>
  	May 19, 2006
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  	&nbsp;
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  <I>
  	By:
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  <I>
  	R. Marc Langland
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  	&nbsp;
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  <I>
  	Name: R. Marc Langland
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  	&nbsp;
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  <I>
  	Title: Chairman, President and CEO
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  	Exhibit&nbsp;Index
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  	Exhibit No.
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  	&nbsp;
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  	Description
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  	10.1
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  	&nbsp;
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  Employment Agreement with Joseph M. Beedle.
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  	99.1
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  	&nbsp;
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  <FONT SIZE="2">
  Press Release dated May 19, 2006 announcing the appointment of Joseph M. Beedle as executive vice president and chief lending officer of Northrim BanCorp, Inc. and its subsidiary, Northrim Bank.
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metadata_documents: [{"type": "8-K", "sequence": "1", "filename": "htm_12632.htm", "description": "LIVE FILING", "secsgml_size_bytes": 13226}]
metadata_filer: {"company-data": {"conformed-name": "NORTHRIM BANCORP INC", "cik": "0001163370", "assigned-sic": "6035", "irs-number": "920175752", "state-of-incorporation": "AK", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-33501", "film-number": "06854632"}, "business-address": {"street1": "P O BOX 241489", "city": "ANCHORAGE", "state": "AK", "zip": "99524-1489"}}
text: Northrim BanCorp, Inc. (Form: 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):
  May 19, 2006
  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))
  Top of the Form
  Item 1.01 Entry into a Material Definitive Agreement.
  The information set forth under Item 5.02, "Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers," is incorporated herein by reference.
  Item 5.02 Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers.
  (c)	On May 19, 2006, Northrim BanCorp, Inc. announced the appointment of Joseph M. Beedle as executive vice president and chief lending officer of Northrim BanCorp, Inc. and its subsidiary, Northrim Bank, effective May 15, 2006.
  Mr. Beedle, age 54, previously served as chief financial officer of  University of Alaska, from 2000 until April 2006, and as chief executive of Goldbelt, Incorporated., an Alaska native corporation, from 1994 to 2000.  Mr. Beedle has more than 20 years of banking experience, including in an executive lending role, having served as executive vice president and chief credit officer for Key Bank of Alaska from 1985 to 1993 and as vice president and commercial loan administrator for First Bank, Ketchikan, Alaska from 1980 to 1985.
  Northrim BanCorp, Inc. and Mr. Beedle have entered into an employment agreement under which Mr. Beedle will receive an annual base salary of $195,000, as adjusted from time to time, and a bonus based on the company's financial performance.  The agreement is effective through December 31, 2006 and renews for a one year term automatically each year unless notice of termination is provided not later than ninety (90) days prior to the expiration of the term.  The agreement provides Mr. Beedle with severance and change of control benefits, including an excise tax gross-up benefit.  Mr. Beedle is prohibited from competing with the company for a period of one year following his departure from the company for whatever reason.  The agreement provides that upon commencement of employment with the company, Mr. Beedle will be granted 1,500 restricted units under the company's stock incentive plan.  The agreement also provides benefits for Mr. Beedle under the company's Supplemental Executive Retirement Plan and Deferred Compensation Plan.
  A copy of Mr. Beedle's employment agreement is filed as exhibit 10.1 to this Form 8-K.
  Item 8.01 Other Events.
  Attached as Exhibit 99.1 is a press release issued on May 19, 2006 announcing the appointment of Mr. Beedle as executive vice president and chief lending officer of Northrim BanCorp, Inc. and its subsidiary Northrim Bank.
  Item 9.01 Financial Statements and Exhibits.
  (a)	Not applicable.
  (b)	Not applicable.
  (c)	Exhibits.
  10.1 Employment Agreement with Joseph M. Beedle.
  99.1 Press Release dated May 19, 2006 announcing the appointment of Joseph  M. Beedle as executive vice president and chief lending officer of Northrim BanCorp, Inc. and its subsidiary, Northrim Bank.
  Top of the Form
  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.
  May 19, 2006
  By:
  R. Marc Langland
  Name: R. Marc Langland
  Title: Chairman, President and CEO
  Top of the Form
  Exhibit Index
  Exhibit No.
  Description
  10.1
  Employment Agreement with Joseph M. Beedle.
  99.1
  Press Release dated May 19, 2006 announcing the appointment of Joseph M. Beedle as executive vice president and chief lending officer of Northrim BanCorp, Inc. and its subsidiary, Northrim Bank.