<PAGE>
                                                                 
                                                              Exhibit 10(f)
                                                                    Page 34


                                 SEVERANCE AGREEMENT


      This Severance Agreement ("Agreement") made and entered into this 21st
day of November, 1995, by and between __________________ ("Executive") and
TODAY'S BANCORP, INC. ("Company").

      WHEREAS, the Executive has been employed as ___________________ of
TODAY'S BANK EAST since January, 1995; and

      WHEREAS, the Executive has raised concerns over the future of the Company
and over his/her future employment should the Company undergo a Change of
Control (as defined in paragraph 4  below); and

      WHEREAS, the Company wishes to retain the Executive's services and
resolve the Executive's concerns; and

      WHEREAS, the Board of Directors of the Company has approved and
authorized the Company to offer and execute this Agreement with the Executive.

      NOW, THEREFORE, the Company and Executive hereby agree as follows:

      1.      The Executive agrees to continue his/her employment with the
Company and agrees to continue his/her employment even if the there is a Change
of Control in the Company providing that after the Change of Control, the
Company does not terminate the Executive or substantially reduce the Executive's
duties and responsibilities as defined in paragraph 5 below.

      2.      In the event there is a Change of Control and the Executive is
terminated within twelve (12) months of the Change of Control other than for
"cause", the Executive shall be entitled to severance pay equal to 100% of the
base salary, incentive compensation and bonus payments paid to the Executive by
the Company in the calendar year prior to the year the Change of Control occurs
(the "Severance Payment").  If the Executive's employment is terminated for
"cause" following a Change of Control, the Executive shall have no right to
receive the Severance Payment.  "Cause" shall mean: personal dishonesty,
incompetence, willful misconduct, breach of fiduciary duty involving personal
profit, intentional failure to perform stated duties, willful violation of any
law, rule or regulation (other than a law, rule or regulation relating to a
traffic violation or similar offense) or a final cease and desist order.

<PAGE>

                                                                    Page 35


      3.     In the event there is a Change of Control and the Executive's job
duties and responsibilities are substantially reduced (as defined in paragraph 5
below) within twelve (12) months of the Change of Control, the Executive has the
option of terminating his/her employment and receiving the Severance Payment.
The Executive must notify the President of the Company in writing within one (1)
month of the substantial change in job duties and responsibilities.  The
Executive's right to terminate his/her employment as provided in this paragraph
will expire within thirteen (13) months after the Change of Control.

      4.     For purposes of this Agreement, Change of Control shall be deemed
to occur upon any of the following:

             (a)   the acquisition of 25% or more of the outstanding voting
                   securities of the Company, directly or indirectly, in a
                   transaction or series of transactions, by any person or
                   persons acting as a group within the meaning of Section
                   13(d) of the Securities and Exchange Act of 1934, as
                   amended; or the acquisition of more than 10% but less than
                   25% of the outstanding voting securities of the Company as
                   described above, if the Board of Directors of the Company
                   determines that a Change in Control has occurred;

             (b)   a merger or consolidation of the Company where the Company
                   is not the surviving corporation;

             (c)   a merger or consolidation of the Company where the Company
                   is the surviving corporation but where more than 50% of the
                   Company's voting securities following such merger or
                   consolidation are held by a person or persons, whether or
                   not acting as a group, who were not stockholders of the
                   Company during the two years preceding the announcement of
                   such merger or consolidation;

             (d)   during any two consecutive years the members of the
                   Company's Board of Directors sitting at the beginning of
                   that period cease to be a majority unless the newly elected
                   directors were nominated by at least two-thirds of the
                   members sitting at the beginning of the period;

             (e)   the sale or transfer by the Company of all or substantially
                   all of its assets; or

             (f)   the filing with the Board of Governors of the Federal
                   Reserve System of a change in control notice with respect to
                   the Company.

<PAGE>

                                                                    Page 36


      5.     For purposes of this Agreement, a substantial change in the
Executive's job duties and responsibilities shall mean any, or a combination of
any, of the following:

             (a)   a change in Executive's supervisor from an officer of the
                   Company to a non-officer of the Company;

             (b)   a fifty (50%) percent or greater reduction in the number of
                   subordinates reporting to the Executive;

             (c)   a loss of one or more of Executive's principal job duties or
                   responsibilities.  A principal job duty means the job exists
                   in order to perform this job function or functions; or,
                   without the assignment of this particular duty or function,
                   the remaining duties and responsibilities of the job are
                   rendered part-time, non-management, clerical, administrative
                   or paraprofessional;

             (d)   a demotion in job title or reduction in compensation
                   (including bonuses) or benefits; or

             (e)   the Company demands that the Executive transfer to a
                   different work location located more than fifty (50) miles
                   from the Executive's current work location.

      6.     (a)   For a one year period following the Executive's receipt of
                   the Severance Payment (the "Restrictive Period"), the
                   Executive will not, in an area encompassing a ten mile
                   radius from Rockford, Freeport and Galena, Illinois,
                   directly or indirectly (I) engage or participate in any
                   business directly or indirectly competitive with the
                   business of the Company; (ii) enter the employ of, or render
                   any other services to any person engaged in the banking
                   business; or (iii) become interested in any such person in
                   any capacity, including, without limitation, as an
                   individual, partner, shareholder, lender, officer, director,
                   principal, agent or trustee; provided, however, that the
                   Executive may own, directly or indirectly, solely as an
                   investment, securities of any person traded on any national
                   securities exchange or listed on the National Association of
                   Securities Dealers Automated Quotation System as long as the
                   Executive is not a controlling person of, or a member of a
                   group which controls, such person and as long as the
                   Executive does not own, directly or indirectly, more than 5%
                   of any class of equity securities, or securities convertible
                   into or exercisable or exchangeable for 5% or more of any
                   class of equity securities, of such person.

<PAGE>

                                                                    Page 37


             (b)   During the Restrictive Period, the Executive will not,
                   directly or indirectly, solicit any employee of the Company
                   or any of its direct or indirect subsidiaries or affiliates
                   or parent corporations, if any (collectively, the
                   "Affiliated Group") for employment with, or representation
                   of (through consulting or any similar arrangement), the
                   Executive or any corporation, partnership, bank or other
                   entity by which the Executive is employed or of which the
                   Executive is an owner, partner, principal or shareholder or
                   in which the Executive has substantial financial interest.

             (c)   The Executive hereby acknowledges that the lists of
                   customers, vendors, marketing methods and plans and all
                   other methods of operation of the Affiliated Group,
                   including without limitation confidential statistics, group,
                   divisional or individual subsidiary sales and profit
                   information, proposed advertising and promotional programs,
                   accounting and financial systems and other operating systems
                   used by the Affiliated Group, as they may exist from time to
                   time, are trade secrets and are proprietary information and,
                   as such, are valuable, special and unique assets of the
                   Affiliated Group.  Accordingly, the Executive hereby agrees
                   that he will not, during the Restrictive Period, disclose
                   any of the information described in the immediately
                   preceding sentence to any person, for any reason or purpose
                   whatsoever.  The provisions of this Section shall not apply
                   to information and data which is generally available to the
                   public or otherwise becomes generally available to the
                   public.

             (d)   During the Restrictive Period, the Executive shall not
                   directly or indirectly, request or advise a customer of the
                   Company or the Affiliated Group to curtail or cancel such
                   customer's business relationship with the Company or the
                   Affiliated Group.

             (e)   If the Executive breaches or threatens to commit a breach of
                   any of the provisions contained in this Section (the
                   "Restrictive Covenants"), in addition to the other remedies
                   available for a breach of this Agreement, the Company shall
                   have the following rights and remedies, each of which shall
                   be independent of the others and severally enforceable, and
                   each of which is in addition to and not in lieu of any other
                   rights and remedies available to the Company under law or in
                   equity:

                   (i)  The right and remedy to have the Restrictive Covenants
                        specifically enforced by any court of competent
                        jurisdiction, it being agreed that any breach or
                        threatened breach of the

<PAGE>

                                                                    Page 38


                        Restrictive Covenants would cause irreparable injury to
                        the Company and that money damages would not provide an
                        adequate remedy to the Company; and

                   (ii) The right and remedy to require the Executive to
                        account for and pay over to the Company all
                        compensation, profits, monies, accruals, increments or
                        other benefits derived or received by the Executive as
                        a result of any action constituting a breach of the
                        Restrictive Covenants.

             (f)   The Executive hereby acknowledges and agrees that the
                   Restrictive Covenants are reasonable and valid in duration
                   and geographical scope and in all other respects.  If any
                   court determines that any of the Restrictive Covenants, or
                   any part thereof, is invalid or unenforceable, the remainder
                   of the Restrictive Covenants shall not thereby be affected
                   and shall be given full effect without regard to the invalid
                   portions.  If any court determines that any of the
                   Restrictive Covenants or any part hereof is unenforceable
                   because of the duration or geographical scope of such
                   provision, such court shall have the power to reduce the
                   duration or scope of such provision, as the case may be,
                   and, in its reduced form, such provision shall then be
                   enforceable.

      7.     Any controversy or claim arising out of or relating to this
Agreement or the breach thereof shall be settled by arbitration in the City of
Rockford in accordance with the laws of the State of Illinois by three (3)
arbitrators, one of whom shall be appointed by the Company, one by the
Executive, and the third of whom shall be appointed by the first two
arbitrators.  If the first two arbitrators cannot agree on the appointment of a
third arbitrator, then the third arbitrator shall be appointed by the Chief
Judge of the United States Court of Appeals for the Seventh Circuit.  The
arbitration shall be conducted in accordance with the rules of the American
Arbitration Association, except with respect to the selection of arbitrators,
which shall be as provided in this Paragraph 6.  Judgment upon the award
rendered by the arbitrators may be entered in any court having jurisdiction
thereof.  In the event it shall be necessary or desirable for the Executive to
retain legal counsel and/or incur other  costs and expenses in connection with
the enforcement of any and all of his/her rights under this Agreement, the
Company shall pay (or the Executive shall be entitled to recover from the
Company as the case may be) his/her reasonable attorneys' fees and costs and
expenses in connection with the enforcement of Executive's rights (including the
enforcement of any arbitration award in court) regardless of the final outcome,
unless the arbitrators shall determine that under the circumstances, recovery by
the Executive of all or a part of any such fees and costs and expenses would be
unjust.

<PAGE>
                                                                    Page 39



      8.     This Agreement is personal to the Executive.  The Executive may
not assign or delegate any of his/her rights or obligations hereunder without
first obtaining the written consent of the Company.

      9.     This Agreement shall be covered by the laws of the United States
and the State of Illinois.

      10.    This Agreement is binding on the Company's successors and assigns.

      11.    The parties expressly agree that nothing in this Agreement creates
an employment contract for any specific term and that the Executive remains an
employee at will.  The only rights created in this Agreement are those relating
to the provision of a severance benefit following a Change in Control in
exchange for the Executive's continued services for the Company.

      IN WITNESS WHEREOF, the parties hereto have executed this Agreement on
this ____ day of November, 1995.

                                        TODAY'S BANCORP, INC.



                                        By:________________________________
                                            Dan Heine, President and CEO



                                        Executive__________________________



Attest:


_______________________________________
Cynthia Lower
Vice President - Human Resources

<PAGE>

                                                                     Page 40


                                TODAY'S BANCORP, INC.
                   Exhibit 11 - Computation of Net Income Per Share
                           for the years ended December 31

<TABLE>
<CAPTION>

Average Shares Outstanding**               1995           1994           1993
--------------------------                 ----           ----           -----
<S>                                    <C>            <C>            <C>

1.  Average number of shares
       outstanding                     2,728,339      2,681,191      2,642,700

2.  Net additional shares
       resulting from assumed
       exercise of stock options*         28,269         19,986         45,835
                                         -------        -------        -------
3.  Adjusted average shares
       outstanding for fully
       diluted computation             2,756,608      2,704,177      2,688,535
                                       ---------      ---------      ---------
                                       ---------      ---------      ---------


Net income per share:

    Primary                              $  1.79        $  1.37        $  1.65
                                         -------        -------        -------
                                         -------        -------        -------

    Assuming full dilution               $  1.77       $  1.36         $  1.62
                                         -------        -------        -------
                                         -------        -------        -------


</TABLE>

------------------
*Assumes proceeds from exercise of stock options used to purchase treasury
shares at the greater of the year-end or the average market price during the
period.

**All number of shares and per share amounts have been retroactively restated to
reflect the three-for-two stock split that took place in February, 1993.