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): July 24, 2012

CoBiz Financial Inc.

(Exact name of registrant as specified in its charter)

Commission file number  001-15955

(303) 312-3400

(Registrant’s telephone number, including area code)

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 (see General Instruction A.2. below):

o                 Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o                 Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o                 Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o                 Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 8.01 Other Events

On July 24, 2012, Richard Dalton, Chief Operations Officer of CoBiz Financial Inc. (“CoBiz”) adopted Rule 10b5-1 trading plans (the “Plans”) with a broker to sell up to 30,000 shares of CoBiz common stock. Mr. Dalton entered into the Plans as part of his personal long-term investment strategy for asset diversification and liquidity.

Pursuant to Mr. Dalton’s Plans, the brokerage firm may sell shares as detailed in the following schedule beginning on August 15, 2012. Mr. Dalton will have no control over the timing of his stock sales under the Plans.  There is no limit price and all sales will be executed at market.  Any orders placed that are not executed on the trade start date will execute on the next possible business day until the trade end date.  The Plans are scheduled to terminate on December 31, 2012. Any transactions under the Plans will be reported by Mr. Dalton through individual Form 4 filings with the Securities and Exchange Commission.

The Plans are intended to comply with Rule 10b5-1 of the Securities Exchange Act of 1934 and CoBiz’ insider trading policy. Rule 10b5-1 allows corporate insiders to establish prearranged written stock trading plans. A Rule 10b5-1 plan must be entered into in good faith at a time when the insider is not aware of material, nonpublic information. Subsequent receipt by the insider of material, nonpublic information will not prevent prearranged transactions under Rule 10b5-1 from being executed.

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SIGNATURE

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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