Item 2.02 Results from Operations and Financial Condition.

On April 27, 2020, Northrim BanCorp, Inc. (the "Company") announced by press release its earnings for the first quarter ended March 31, 2020.

A copy of the press release is attached hereto as Exhibit 99.1.

Item 8.01 Other Events.

Recent market events caused by the global outbreak of COVID-19 have impacted the financial markets and significantly disrupted U.S. and global economies. The Company's Board of Directors (the "Board") unanimously approved a temporary suspension of the Company's previously announced stock repurchase program effective as of March 26, 2020. The Board determined that it was in the best interest of the Company to suspend the stock repurchase program in order to preserve financial flexibility and liquidity given the potential prolonged impact of COVID-19. Stock repurchases will be reevaluated by the Board based on circumstances and expectations in the future and the Board has the ability to reinstate repurchases as circumstances warrant.

On January 27, 2020, the Board authorized the repurchase of up to an additional 327,000 shares of the Company's common stock. In the first quarter of 2020, the Company repurchased 192,709 shares, bringing the total number of shares available and authorized for repurchase under the stock repurchase program to 134,291.

Item 9.01 Financial Statements and Exhibits.



(a) Financial statements - not applicable
(b) Proforma financial information - not applicable
(c) Shell company transactions - not applicable
(d) Exhibit No.   Description

99.1              Press Release dated April 27, 2020

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