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                                EXHIBIT 10(k)
                             SEVERANCE AGREEMENT


     This AGREEMENT is made effective as of August 1, 1997, by and between 
Pinnacle Financial Services, Inc. ("Pinnacle"), a corporation organized under 
the laws of Michigan, with its principal administrative office at 830 
Pleasant Street, St. Joseph, Michigan 49085, and Joseph F. Heffernan (the 
"Executive").

     WHEREAS, Pinnacle will acquire CB Bancorp, Inc. ("CB Bancorp"), and its 
wholly owned subsidiary, Community Bank, a Federal Savings Bank ("Bank") 
(collectively the "Acquired Entities"), in accordance with and pursuant to 
the Agreement and Plan of Merger by and between Pinnacle and CB Bancorp, 
dated as of the 1st day of March, 1997 (the "Merger Agreement");

     WHEREAS, the employment of the Executive with the Acquired Entities will 
be terminated upon the effective time of the acquisition of such entities by 
Pinnacle; and

     WHEREAS, Pinnacle desires to provide assurance in the form of certain 
severance benefits offered hereunder to Executive in order to retain the 
services of the Executive based on his knowledge of the Acquired Entities, 
his expertise in the field of financial management and his knowledge of the 
savings and loan industry, including the mortgage repurchase program operated 
by CB Bancorp and the Bank prior to the Effective Date, as defined in the 
Merger Agreement;

     THEREFORE, in consideration of the mutual promises set forth herein, it 
is agreed by and between Pinnacle and Executive:

1.   DESCRIPTION OF SERVICES.

     Following the consummation of the Merger, Executive shall serve as an 
employee of Pinnacle and/or its affiliates, in such capacity as may be 
mutually agreed by Pinnacle and Executive. As an employee of Pinnacle and/or 
its affiliates, Executive will provide Pinnacle and its affiliates with the 
benefit of his special knowledge, skill, contacts and business experience in 
the savings and loan industry, particularly as his knowledge relates to the 
business previously conducted by CB Bancorp and the Bank.

2.   TERMS.

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     (a)  Executive shall be employed as an "at will " employee, and said 
employment may be terminated at any time, whether for "Cause" or any reason 
whatsoever, subject to the provisions of Sections 4 and 5 of this Agreement.

     (b)  During the period of his employment hereunder, except for periods 
of absence occasioned by illness, reasonable vacation periods, and reasonable 
leaves of absence, Executive shall devote substantially all his business 
time, attention, skill, and efforts to the faithful performance of his duties 
hereunder including activities and services related to the organization, 
operation and management of Pinnacle and participation in community and civic 
organizations; provided, however, that, with the approval of the Board, as 
evidenced by a resolution of such Board, from time to time, Executive may 
serve, or continue to serve, on the boards of directors of, and hold any 
other offices or positions in, companies or organizations, which, in such 
Board's judgment, will not present any conflict of interest with Pinnacle, or 
materially affect the performance of Executive's duties pursuant to this 
Agreement.

3.   COMPENSATION AND REIMBURSEMENT

     (a)  The compensation specified under this Agreement shall constitute 
the salary and benefits paid for the duties described in Section 1 and 2. 
Pinnacle shall pay Executive as compensation a salary of not less than 
$175,000 per year ("Base Salary"). Such Base Salary shall be payable 
bi-monthly.  During the period of this Agreement, Executive's Base Salary 
shall be reviewed at least annually; the first such review will be made no 
later than one year from the date of this Agreement.  Any increase in base 
salary shall then become the "Base Salary" for purposes of this Agreement.  
In addition to the Base Salary provided in this Section 3(a), Pinnacle shall 
provide Executive at no cost to Executive with all such other benefits as are 
provided uniformly to permanent full-time employees of Pinnacle and principal 
subsidiary, Pinnacle Bank.  Base Salary shall include any amounts of 
compensation deferred by Executive under a qualified plan maintained by 
Pinnacle or Pinnacle Bank.

     (b)  Executive will be entitled to participate in or receive benefits 
under any employee benefit plans including, but not limited to, retirement 
plans, supplemental retirement plans, pension plans, profit-sharing plans, 
health-and-accident plans, medical coverage or any other employee benefit 
plan or arrangement made available by Pinnacle in the future to its 
employees, subject to and on a basis consistent with the terms, conditions 
and overall 

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administration of such plans and arrangements. Executive will be entitled to 
incentive compensation and bonuses as provided in any plan of Pinnacle in 
which Executive is eligible to participate. Nothing paid to the Executive 
under any such plan or arrangement will be deemed to be in lieu of other 
compensation to which the Executive is entitled under this Agreement.

4.   PAYMENTS TO EXECUTIVE UPON AN EVENT OF TERMINATION.

     (a)  Upon the occurrence of an Event of Termination (as herein defined) 
during the Executive's term of employment under this Agreement, the 
provisions of this Section shall apply.  As used in this Agreement, an "Event 
of Termination" shall mean termination of service with Pinnacle for any 
reason, including the termination by Pinnacle of Executive's full-time 
employment hereunder, and termination upon the retirement, resignation or 
death of Executive; provided that an Event of Termination shall not include 
termination of Executive by Pinnacle for Cause as defined in Section 5.      

     (b)  Upon the occurrence of an Event of Termination, Pinnacle shall pay 
Executive, or in the event of his death, his beneficiary or beneficiaries, or 
his estate, as the case may be, as severance pay or liquidated damages, or 
both an amount equal to the greater of $223,000 or one times Executive's then 
current Base Salary and any bonuses paid or to be paid during the year of 
termination.  At the election of the Executive, which election is to be made 
within thirty (30) days of the Date of Termination following an Event of 
Termination, such payment may be made in a lump sum or paid in equal monthly 
installments during the thirty-six (36) months following the Executive's 
termination of service.  In the event that no election is made, payment to 
the Executive will be made on a monthly basis in equal installments over 
thirty-six (36) months.

     (c)  Upon an Event of Termination, Pinnacle will, at no cost to 
Executive, cause to be continued life, medical, dental and disability 
coverage substantially identical to the coverage maintained by Pinnacle and 
its affiliates for Executive prior to his termination of service. Such 
coverage and payments shall cease upon the expiration of thirty-six (36) 
months.

5.   TERMINATION FOR CAUSE.

     The terms "Termination for Cause" or "Cause" in relation to a 
termination of employment shall mean termination because of the Executive's 
intentional or persistent failure to perform stated duties of a material 
nature, personal dishonesty which results in

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material loss to Pinnacle or one of its affiliates, willful violation of any 
law, rule, regulation (other than traffic violations or similar offenses) or 
final cease and desist order which results in material loss to Pinnacle or 
one of its affiliates or any material breach of this Agreement. For purposes 
of this Section, no act, or the failure to act, on Executive's part shall be 
"willful" unless done, or omitted to be done, not in good faith and without 
reasonable belief that the action or omission was in the best interest of 
Pinnacle or its affiliates. Notwithstanding the foregoing, Executive shall 
not be deemed to have been terminated for Cause unless and until there shall 
have been delivered to him a Notice of Termination which shall include a copy 
of a resolution duly adopted by the affirmative vote of not less than 
three-fourths of the members of the Board (excluding the Executive for 
purposes of said computation) at a meeting of the Board called and held for 
that purpose (after reasonable notice to Executive and an opportunity for 
him, together with counsel, to be heard before the Board), finding that in 
the good faith opinion of the Board, Executive was guilty of conduct 
justifying termination for Cause and specifying the particulars thereof in 
detail. The Executive shall not have the right to receive any payment under 
Section 4 of this Agreement, or any other compensation or other benefits for 
any period after Termination for Cause.

6.   NOTICE.

     (a)  Any purported termination by Pinnacle or by Executive shall be 
communicated by Notice of Termination to the other party hereto. For purposes 
of this Agreement, a "Notice of Termination" shall mean a written notice 
which shall indicate the specific termination provision in this Agreement 
relied upon and shall set forth in reasonable detail the facts and 
circumstances claimed to provide a basis for termination of Executive's 
employment under the provision so indicated.

     (b)  "Date of Termination" shall mean the date specified in the Notice 
of Termination (which, in the case of a Termination for Cause, shall not be 
less than thirty (30) days from the date such Notice of Termination is given).

7.   POST-TERMINATION OBLIGATIONS.

     (a)  All payments and benefits to Executive under this Agreement shall 
be subject to Executive's compliance with paragraph (b) of this Section 7 
during the term of this Agreement and for one

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(1) full year after the expiration or termination hereof.

     (b)  Executive shall, upon reasonable notice, furnish such information 
and assistance to Pinnacle as may reasonably be required by Pinnacle in 
connection with any litigation in which it or any of its subsidiaries or 
affiliates is, or may become, a party.

8.   SOURCE OF PAYMENTS.

     All payments provided in this Agreement shall be timely paid in cash or 
check from the general funds of Pinnacle.

9.   NO ATTACHMENT.

     (a)  Except as required by law, no right to receive payments under this 
Agreement shall be subject to anticipation, commutation, alienation, sale, 
assignment, encumbrance, charge, pledge, or hypothecation, or to execution, 
attachment, levy, or similar process or assignment by operation of law, and 
any attempt, voluntary or involuntary, to affect any such action shall be 
null, void, and of no effect.

     (b)  This Agreement shall be binding upon, and inure to the benefit of, 
Executive and Pinnacle and their respective successors and assigns.

10.  MODIFICATION.

     This Agreement may not be modified or amended except by an instrument in 
writing signed by the parties hereto.

11.  SEVERABILITY.

     If, for any reason, any provision of this Agreement, or any part of any 
provision, is held invalid, such invalidity shall not affect any other 
provision of this Agreement or any part of such provision not held so 
invalid, and each such other provision and part thereof shall to the full 
extent consistent with law continue in full force and effect.

12.  HEADINGS FOR REFERENCE ONLY.

     The headings of sections and paragraphs herein are included solely for 
convenience of reference and shall not control the

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meaning or interpretation of any of the provisions of this Agreement.

15.  ARBITRATION.

     Any dispute or controversy arising under or in connection with this 
Agreement shall be settled exclusively by arbitration, conducted before a 
panel of three arbitrators sitting in a location selected by the Executive 
within fifty (50) miles from the location of Pinnacle, in accordance with the 
rules of the American Arbitration Association then in effect.

16.  PAYMENT OF LEGAL FEES.

     All reasonable legal fees paid or incurred by Executive pursuant to any 
dispute or question of interpretation relating to this Agreement shall be 
paid or reimbursed by Pinnacle, if Executive is successful on the merits 
pursuant to a legal judgment, arbitration or settlement.

17.  SUCCESSOR TO PINNACLE.

     Pinnacle shall require any successor or assignee, whether direct or 
indirect, by purchase, merger, consolidation or otherwise, to all or 
substantially all the business or assets of Pinnacle, expressly and 
unconditionally to assume and agree to perform Pinnacle's obligations under 
this Agreement, in the same manner and to the same extent that Pinnacle would 
be required to perform if no such succession or assignment had taken place.

18.  APPLICABLE LAW.

     This Agreement shall be governed by the laws of the State of Michigan 
applicable to contracts made and wholly to be performed within such state.

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     IN WITNESS WHEREOF, the parties have executed this Agreement on August 
1, 1997.

                                            Pinnacle Financial Services, Inc.


                                            By:
                                                Richard L. Schanze
                                                Chairman and Chief
                                                Executive Officer




                                           Joseph F. Heffernan
                                           Executive