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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.

1(a) NAME OF ISSUER

(b) IRS IDENT. NO.

(c) S.E.C. FILE NO.

Northrim BanCorp, Inc.

92-0175752

000-33501

1(d) ADDRESS OF ISSUER

STREET

(e) TELEPHONE NO.

3111 C Street

CITY

STATE

ZIP CODE

AREA CODE AND NUMBER

Anchorage

AK

99503

907

562-0062

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

(b) IRS IDENT. NO.

(c) RELATIONSHIP TO ISSUER

(d) ADDRESS

CITY

STATE

ZIP CODE

Christopher N. Knudson

Executive Vice President, COO & Director

c/o Northrim Bank

Anchorage

AK

99503

3111 C Street

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.

SEC USE

3(a)

(b)

ONLY

(c)

(d)

(e)

(f)

(g)

Title of the

Name and Address of Each Broker

Number of

Number of Shares

Approximate

Name of Each

Class of

Through Whom the Securities are

Shares or Other

Aggregate

or Other Units

Date of Sale

Securities

Securities

to be Offered or Each Market Maker

Broker-Dealer

Units To Be Sold

Market Value

Outstanding

(See instr. 3(f))

Exchange

To Be Sold

who is Acquiring the Securities

File Number

(See instr. 3(c))

(See instr. 3(d))

(See instr. 3(e))

(M0. DAY YR.)

(See instr. 3(g))

Common Stock

Wedbush Morgan Securities

2,436

$66,575.88

6,106,990

09/07/2006

NASDAQ

101 West Benson Blvd., Ste 550

(Close on 09/01/06)

Anchorage, AK 99503

 

 

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:

Name of Person from

Amount of

Title of

Date you

Nature of Acquisition

Whom Acquired

Securities

the Class

Acquired

Transaction

(If gift, also give date donor acquired)

Acquired

Date of Payment

Nature of Payment

Common Stock

09/01/06

Broker’s Cashless Exercise of Stock Option

Northrim BanCorp, Inc.

6,918

09/01/2006

Cashiess Exercise

INSTRUCTIONS:		1. 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.
		2. If within two years after the acquisition of the securities the person for whose account they are to be sold had any short positions, put or other option to dispose of securities referred to in paragraph (d)(3) of Rule 144, furnish full information with respect thereto.

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

Remarks:

INSTRUCTIONS:

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.

ATTENTION:

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.

09/05/2006

/s/ Christopher N. Knudson

(Signature)

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.