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Northrim BanCorp Declares Cash Dividend of $0.10 Per Share


ANCHORAGE, Alaska, Aug. 24, 2009 (GLOBE NEWSWIRE) -- Northrim BanCorp,
Inc. (Nasdaq:NRIM) today announced its Board of Directors declared a
quarterly cash dividend of $0.10 per common share. The dividend will be
paid on September 18, 2009, to shareholders of record at the close of
business September 10, 2009. Northrim has consistently paid a regular
quarterly cash dividend since 1995.

"We continue to be a profitable and well capitalized bank, allowing us
to maintain a solid payout ratio for our shareholders," said Marc
Langland, Northrim's President and Chief Executive Officer. "According
to Dan Robinson, an economist with the State of Alaska Department of
Labor, the national recession is having a negative effect on Alaska's
economy, mainly in the areas of tourism, retail trade and construction.
However, as Mr. Robinson notes, the impact has been mild compared to
what the rest of the nation is experiencing."

Northrim recently reported year-to-date 2009 profits of $3.8 million,
or $0.60 per diluted share, compared to $3.6 million, or $0.55 per
diluted share, in first six months of 2008. Northrim remains well
capitalized with Tier 1 Capital/risk adjusted assets of 13.50% as
compared to 12.73% a year ago.

About Northrim BanCorp

Northrim BanCorp, Inc. is the parent company of Northrim Bank, a
commercial bank that provides personal and business banking services
through locations in Anchorage, Eagle River, Wasilla, and Fairbanks,
Alaska, and an asset based lending division in Washington. The bank
differentiates itself with a "Customer First Service" philosophy.
Affiliated companies include Elliott Cove Capital Management, LLC;
Residential Mortgage, LLC; Northrim Benefits Group, LLC; and Pacific
Wealth Advisors, LLC. In June 2009, Northrim Bancorp was added to the
Russell 2000 Index, a subset of the Russell 3000 Index. Both indices
are widely used by professional money managers as benchmarks for
investment strategies.

www.northrim.com

The Northrim BanCorp, Inc. logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=3818

This release may contain "forward-looking statements" that are subject
to risks and uncertainties. Readers should not place undue reliance on
forward-looking statements, which reflect management's views only as of
the date hereof. 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 report, the words
"anticipate," "believe," "estimate," "expect," and "intend" and words
or phrases of similar meaning, as they relate to Northrim or
management, are intended to help identify forward-looking statements
within the meaning of the Private Securities Litigation Reform Act of
1995. Although we believe that management'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
collectability 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. 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.

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