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                                                                 EXHIBIT (10.14)

                        FIRST OAK BROOK BANCSHARES, INC.

                        SENIOR EXECUTIVE INSURANCE PLAN
                        -------------------------------


     The First Oak Brook Bancshares, Inc. Senior Executive Insurance Plan (the
Plan) is established this 11th day of March, 1996, pursuant to the unanimous
review and approval of the Stock Option Advisory Committee consisting of
independent directors, Miriam Lutwak Fitzgerald, Chairman, Alton M. Withers and
Geoffrey R. Stone.

1.  The Board of Directors of First Oak Brook Bancshares, Inc. (the "Company")
    by its Stock Option Advisory Committee acting independently, has determined
    that it is in the best interest of the Company to terminate the current term
    insurance policies being maintained on senior executives, Eugene P. Heytow,
    Frank M. Paris and Richard M. Rieser, Jr. (Senior Executive(s)); it being
    determined that the escalating expense of these policies should be
    eliminated and replaced by this Plan created to provide alternative
    insurance benefits for said Senior Executives at a fixed cost to the
    Company.

2.  The Plan establishes a fixed annual payment (less applicable withholding
    taxes) to the Senior Executives to be used by them to pay the costs of
    insurance premiums on specified insurance policies. The payments shall be
    made upon inception of the policies and on each anniversary thereof,
    provided the Company's obligations hereunder have not terminated pursuant to
    paragraph 5 below.

3.  The schedule of insurance coverage and annual payments for each Senior
    Executive is as follows:
 
         Eugene P. Heytow
         Company:  Federal Kemper Life Assurance Company Policy #FK5154589
         Amount of Death Benefits:  $1,500,000.00
         Annual Payment:            $   44,840.00 
 
         Frank M. Paris
         Company:  The Northwestern Mutual Life Insurance Company Policy
                   #13517090
         Amount of Death Benefits:  $1,000,000.00
         Annual Payment:            $   28,320.00
 
         Richard M. Rieser, Jr.
         Company:  The Northwestern Mutual Life Insurance Company Policy
                   #13575688
         Amount of Death Benefits:  $1,510,000.00
         Annual Payment:            $   44,840.00
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4.  The Company will have no ownership interest in any of the insurance
    policies, nor any residual or collateral interest in any premiums paid or
    cash surrender value. The Senior Executives or their designees will have all
    rights of ownership of said policies and can exercise said rights without
    qualification or restriction by the Company.

5.  The Company's obligation to pay the annual payments set forth above is
    irrevocable and can not be altered or amended by further action of the Board
    of Directors, Stock Option Advisory Committee or any other committee of the
    Company without the consent of the affected Senior Executive. The Company's
    obligation will cease as to a Senior Executive only upon, (a) the
    termination of the Senior Executive's employment with the Company, whether
    voluntary or involuntary, subject to the Company's continuing obligations
    under any employment or other agreement, (b) the cancellation of the
    insurance policy on the Senior Executive's life, (c) the death of the Senior
    Executive, or (d) at such time as the annual payments have resulted in a
    fully paid-up policy (or would have resulted in a fully-paid up policy based
    on the assumptions in effect at the inception of the policy and assuming no
    withdrawals or loans were taken therefrom).


FIRST OAK BROOK BANCSHARES, INC.
STOCK OPTION ADVISORY COMMITTEE


MARCH 11, 1996