e144

U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 144
NOTICE OF PROPOSED SALE OF SECURITIES
PURSUANT TO RULE 144 UNDER THE SECURITIES ACT OF 1933
ATTENTION:   Transmit for filing 3 copies of this form concurrently with either placing an order with a broker to execute sale or executing a sale directly with a market maker.
     
 
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SEC USE ONLY
  
 
DOCUMENT SEQUENCE NO.



  
 
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1 (a) NAME OF ISSUER
    (b) IRS IDENT. NO.   (c) S.E.C. FILE NO.   WORK LOCATION  
 


Northrim BanCorp, Inc.
     92-0175752   0-33501        
 
1 (d) ADDRESS OF ISSUER
    STREET     CITY     STATE     ZIP CODE     (e) TELEPHONE NO.  
 
 
    3111 C Street     Anchorage     AK   99503-3901     AREA CODE

      907		     NUMBER

562-0062		  
 
2 (a) NAME OF PERSON FOR WHOSE ACCOUNT THE SECURITIES ARE TO BE SOLD

     (b) RELATIONSHIP
TO ISSUER 		    (c) ADDRESS     CITY     STATE     ZIP CODE  
 
Joseph M. Schierhorn
     EVP, Chief Financial
Officer		     3111 C Street Anchorage AK 99503-3901
 
INSTRUCTION: The person filing this notice should contact the issuer to obtain the I.R.S. Identification Number and the S.E.C. File Number.
                                                   
 
  3 (a)     (b)     SEC USE ONLY     (c)     (d)     (e)     (f)     (g)  
 
Title of the		           Broker-Dealer     Number of Shares     Aggregate     Number of Shares     Approximate     Name of Each  
  Class of     Name and Address of Each Broker Through Whom the     File Number     or Other Units     Market     or Other Units     Date of Sale     Securities  
  Securities     Securities are to be Offered or Each Market Maker           To Be Sold     Value     Outstanding     (MO./DAY/YR.)     Exchange  
  To Be Sold     who is Acquiring the Securities           (See Instr. 3(c))     (See Instr. 3(d))     (See Instr. 3(e))     (See Instr. 3(f))     (See Instr. 3(g))  
 
Common Stock
    Wedbush Morgan Securities
101 West Benson Boulevard, Suite 550
Anchorage, AK 99503-3901

             3,493       $69,475.77 ($19.89/share 06/02/11)     6,430,267     06/10/11     NASDAQ  
 
INSTRUCTIONS:
         
1.
  (a)   Name of issuer.
 
  (b)   Issuer’s I.R.S. Identification Number.
 
  (c)   Issuer’s S.E.C. file number, if any.
 
  (d)   Issuer’s address, including zip code.
 
  (e)   Issuer’s telephone number, including area code.
 
       
2.
  (a)   Name of person for whose account the securities are to be sold.
 
  (b)   Such person’s relationship to the Issuer (e.g., officer, director, 10 percent stockholder, or member of immediate family of any of the foregoing).
 
  (c)   Such person’s address, including zip code.
 
       
         
3.
  (a)   Title of the class of securities to be sold.
 
  (b)   Name and address of each broker through whom the securities are intended to be sold.
 
  (c)   Number of shares or other units to be sold (if debt securities, give the aggregate face amount).
 
  (d)   Aggregate market value of the securities to be sold as of a specified date within 10 days prior to the filing of this notice.
 
  (e)   Number of shares or other units of the class outstanding, or if debt securities the face amount thereof outstanding, as shown by the most recent report or statement published by the Issuer.
 
  (f)   Approximate date on which the securities are to be sold.
 
  (g)   Name of each securities exchange, if any, on which the securities are intended to be sold.


 

 

TABLE I — SECURITIES TO BE SOLD
Furnish the following information with respect to the acquisition of the securities to be sold
and with respect to the payment of all or any part of the purchase price or other consideration therefor:
                                                         
 
        Date you           Name of Person from Whom Acquired     Amount of     Date of        
  Title of the Class     Acquired     Name of Acquisition Transaction     (If gift, also give date donor acquired)     Securities Acquired     Payment     Nature of Payment  
 
Common Stock
      11/03/08       Restricted Stock Units Vested     Northrim BanCorp, Inc.       345         N/A         N/A    
 
Common Stock
       09/15/08       Exercise of Stock Option     Northrim BanCorp, Inc.       888         09/17/08         Cashless Exercise    
 
Common Stock
       08/11/09       Exercise of Stock Option     Northrim BanCorp, Inc.       2,260         08/12/09         Cashless Exercise    
 
     
INSTRUCTIONS:
  If the securities were purchased and full payment therefor was not made in cash at the time of purchase, explain in the table or in a note thereto the nature of the consideration given. If the consideration consisted of any note or other obligation, or if payment was made in installments describe the arrangement and state when the note or other obligation was discharged in full or the last installment paid.
 
TABLE II — SECURITIES SOLD DURING THE PAST 3 MONTHS
Furnish the following information as to all securities of the issuer sold during the past 3 months
by the person for whose account the securities are to be sold.
                                         
 
                        Amount of        
  Name and Address of Seller     Title of Securities Sold     Date of Sale     Securities Sold   Gross Proceeds  
 
NONE
    NONE       NONE         NONE       NONE      
 
 
                                      
 
 
                                      
 
REMARKS:
                                         
 
 
                                      
 
 
 
                                      
 
 
 
                                      
 
 
 
                                      
 
     
INSTRUCTIONS:   ATTENTION:
See the definition of “person” in paragraph (a) of Rule 144. Information is to be given not only as to the person for whose account the securities are to be sold but also as to all other persons included in that definition. In addition, information shall be given as to sales by all persons whose sales are required by paragraph (e) of Rule 144 to be aggregated with sales for the account of the person filing this notice.
  The person for whose account the securities to which this notice relates are to be sold hereby represents by signing this notice that he does not know any material adverse information in regard to the current and prospective operations of the Issuer of the securities to be sold which has not been publicly disclosed. If such person has adopted a written trading plan or given trading instructions to satisfy Rule 10b5-1 under the Exchange Act, by signing the form and indicating the date that the plan was adopted or the instruction given, that person makes such representation as of the plan adoption or instruction date.
 
    
June 8, 2011
 
/s/ Joseph M. Schierhorn
 
 
 
DATE OF NOTICE
  (SIGNATURE)
 
    
 
 
    
DATE OF PLAN ADOPTION OR GIVING OF INSTRUCTION,
IF RELYING ON RULE 10B5-1
  The notice shall be signed by the person for whose account the securities are to be sold. At least one copy of the notice shall be manually signed. Any copies not manually signed shall bear typed or printed signatures.

ATTENTION: Intentional misstatements or omission of facts constitute Federal Criminal Violations (See 18 U.S.C. 1001)
SEC 1147 (04-07)