Phillips named CEO at Progressive Savings Bank

JAMESTOWN – Progressive Savings Bank recently named Ottis Phillips as their new CEO.  Phillips assumed the position following the resignation of President and CEO Gary Hicks, who had been with the bank for more than 30 years.

“I want to thank Gary for his dedication and long service to this organization,” Phillips said. “Gary’s contribution to Progressive has been immeasurable, and we have all benefited tremendously from his leadership in shaping our organization. We wish Gary all the best in his new career.”

Born and raised in the Upper Cumberland, Phillips graduated from Tennessee Technological University with a bachelor’s degree in Mechanical Engineering and a master’s degree in Business Administration. He has been active civically and professionally as a small-business owner for more than 25 years and as a volunteer on numerous boards including the Cookeville-Putnam County Chamber of Commerce, the Blue Cross Bowl Steering Committee, the Tennessee Malt Beverage Association, the Tennessee Tech Athletic Hall of Fame selection committee and the Tennessee Tech University Foundation Board of Directors. Phillips has also served on the Progressive Savings Bank Board of Directors since 2016 and is currently its chairman.

In addition to PSB offering a variety of banking services, which include checking, savings and personal and commercial loans, a full line of financial services is available via its affiliated organizations. Cravens and Company Advisors has experienced financial planners in wealth management, The Rains Agency offers solutions for personal and commercial insurance needs, and Progressive Tax has certified public accountants and other tax professionals to handle business and personal tax planning and preparation. Progressive Savings Bank has locations in Jamestown, Cookeville, Crossville, Homestead, Fairfield Glade, and Wartburg. For more information, please visit the company’s website at

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