Nicol Retires from The Peoples Savings Bank – Peak of Ohio

After more than thirty years of service, Brian Nicol, the President and CEO of The Peoples Savings Bank in Urbana, is stepping into retirement. His tenure at the bank has left an indelible mark on the institution and the Champaign County community, reflecting the values of trust, community involvement, and innovation.

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Nicol’s path to leadership at The Peoples Savings Bank began with a significant career shift over three decades ago. At the time, he was working at another local bank, but he was drawn to the philosophy of “Neighbors helping Neighbors” and the bank’s strong commitment to community ties. This was a turning point that would not only shape his career but also influence the future direction of the bank.

Starting as an Assistant Vice President in the Lending Department, Nicol quickly demonstrated his ability to innovate. “I was given a great deal of flexibility and independence to enhance the department’s products,” Nicol recalled. His leadership style was defined by trust and autonomy, qualities that would remain central throughout his career.

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Despite his early age when joining the management team, Nicol was able to build lasting relationships with customers. “I had to earn the trust of many customers,” he explained a trust that would evolve into enduring connections, many of which continue today.

Under Nicol’s leadership, The Peoples Savings Bank experienced significant growth and transformation. His forward-thinking approach helped introduce new banking products, including consumer loans and credit card options and allowed the bank to adapt to the rapidly changing world of banking technology. Despite these innovations, Nicol ensured that the bank remained committed to its roots as a local institution.

“Our organic growth has been tremendous over the last 6 to 7 years,” Nicol shared. “Our customers value banking with a true local community bank where decisions are made by bankers they know and trust.”

Nicol’s leadership extended beyond financial products. He was dedicated to hiring and nurturing a talented workforce and fostering a supportive company culture. “Family is first, and work is a far second,” he emphasized, a philosophy that not only created a positive work environment but also contributed to the bank’s reputation for exceptional customer service.

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Throughout his career, Nicol has been a strong advocate for the bank’s mission of supporting Champaign County. From financial contributions to staff volunteering, The Peoples Savings Bank has been a quiet but powerful force in the local community. Nicol reflected, “There’s a long history of moments where we’ve helped customers overcome challenges, find solutions, and achieve dreams they thought were out of reach.”

As Nicol retires, he leaves The Peoples Savings Bank in capable hands. Marsha Bumgardner, a lifelong Champaign County resident and experienced leader within the bank, will take over as the new President and CEO. Nicol is confident in Bumgardner’s ability to guide the bank through its next phase, noting her deep local knowledge and leadership experience.

“The strong local Board of Directors, management team, and staff are the bank’s biggest strengths,” Nicol said. He envisions the bank continuing to evolve with technological advances and expanding its physical footprint to serve even more communities in the future.

While retiring from his role as CEO, Nicol is not stepping away from the bank or his community. He will continue to serve as Chairman of the Board, offering guidance to Bumgardner and staying involved with local organizations.

As he reflects on his career, Nicol is proud of the legacy he leaves behind — one that combines innovation with a deep commitment to community and trust.