It happened on a Saturday. March 29, 2025. A single-engine plane nosedived into a quiet residential neighborhood in Brooklyn Park, Minnesota. Within hours, the financial world and the Twin Cities community were reeling from the news. This wasn't just any pilot. It was Terry Dolan.
He was the Vice Chair and Chief Administration Officer at U.S. Bank. For anyone who follows the banking sector, the Terry Dolan plane crash US Bank tragedy was a massive shock. People knew him as a razor-sharp executive who had previously served as the company’s CFO for nearly seven years. He was 63. Honestly, the details that emerged afterward paint a picture of a guy who was as comfortable in a cockpit as he was in a boardroom.
The Flight Path to Brooklyn Park
Terry was an avid pilot. He’d held his private pilot license since 2008. On that particular Saturday, he was flying his Socata TBM700A—a high-performance single-engine turboprop—back to Minnesota.
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The journey started way down in Naples, Florida. He made a stop at Des Moines International Airport in Iowa to refuel. Everything seemed routine. He was headed for the Anoka County-Blaine Airport, which was only about ten miles from where the plane eventually went down.
According to NTSB preliminary data, he actually checked in with the air traffic controllers. He told them he was inbound. He verified he had the current weather.
Then, silence.
Four minutes after that last contact, the controller issued a low-altitude alert. No response. Another try three minutes later? Still nothing. Doorbell cameras in the residential area caught the final moments: the plane in a steep, terrifying nose-first descent. It struck trees before slamming into a house, sparking a massive fire that basically leveled the structure.
What the NTSB Found (And What We're Still Waiting On)
In the immediate aftermath of the Terry Dolan plane crash US Bank incident, everyone wanted to know why. Was it the plane? Was it the pilot?
Investigating aviation accidents is a slow, methodical grind. The NTSB usually takes a year or two to release a final report. But the preliminary findings gave us a pretty strong hint.
- Mechanicals: Investigators found no immediate signs of engine failure or mechanical issues with the Socata TBM700A.
- The Icing Factor: The report noted a 50% to 60% probability of icing at the time of the crash.
- The Descent: About five nautical miles from the airport, the plane's airspeed and descent rate spiked while it banked into a left turn.
Icing is a pilot's worst nightmare. It changes the shape of the wing, adds weight, and can stall an aircraft in seconds if not managed. While Terry was experienced, the transition from the warm Florida air to a Minnesota spring can be treacherous for small aircraft.
Who Was Terry Dolan?
To understand why this hit U.S. Bank so hard, you have to look at the man's career. He wasn't just a suit. He grew up on a farm near Lucan, Minnesota, the tenth of 13 children. That kind of background sticks with you.
He joined U.S. Bank in 1998. Over the next 25+ years, he climbed every rung of the ladder. He was the controller, then the head of wealth management, and eventually the CFO. In 2023, he transitioned to the CAO role, where he was basically the architect of the bank's digital transformation and corporate strategy.
U.S. Bank CEO Andy Cecere, who actually went to college with Terry at the University of St. Thomas, described him as a "wonderful person" first and an "outstanding businessman" second.
But it wasn't just about the bank.
Terry was everywhere in the Twin Cities.
- Catholic Charities
- The Minnesota Opera
- The Minneapolis Foundation
- Artspace
He was the guy who helped get the Dorothy Day Center—a massive housing project for the homeless in St. Paul—off the ground. He didn't just write checks; he sat on the boards and did the work.
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The Impact on U.S. Bank
When a high-ranking executive dies suddenly, the markets usually get twitchy. U.S. Bancorp (USB) stock saw some immediate volatility following the news, dropping about 2% as the investment community processed the loss.
Dolan was highly regarded by analysts like Scott Siefers at Piper Sandler, who called the loss a "shocking emotional blow" to the company. Terry was the face of the bank’s financial health for years. He was the guy answering the tough questions on earnings calls.
Luckily, U.S. Bank is a "super-regional" powerhouse with deep leadership benches. While the emotional toll was heavy, the operational side of the bank stayed stable. They had already moved Terry into the CAO role a couple of years prior, which meant a successor was already in place in the CFO office.
Lessons for the Future
The Terry Dolan plane crash US Bank story is a reminder that even high-flyers—literally and figuratively—are subject to the same risks as everyone else. For those looking for actionable insights from this tragedy, they usually fall into two categories: corporate governance and personal safety.
1. Succession Planning is Non-Negotiable
U.S. Bank was able to weather the storm because they had a clear leadership structure. If your business depends on one or two "key people," you're at risk. You need a "hit-by-a-bus" (or in this case, a plane) plan for every major role.
2. The Complexity of General Aviation
If you're a private pilot or someone who flies on small planes, the NTSB's focus on icing is a huge takeaway. Even a modern, high-performance turboprop like the Socata TBM700A is vulnerable to atmospheric conditions. Constant training on de-icing systems and weather awareness is the only defense.
3. Legacy is About More Than Money
Terry Dolan's death left a hole in the Twin Cities not because of his bank balance, but because of his community work. He proved that you can be a top-tier executive while remaining a "family man" who sings Irish folk songs and roams the aisles of the local hardware store on Saturdays.
The house in Brooklyn Park was a total loss, but miraculously, the person inside at the time of the crash made it out alive. Terry wasn't so lucky. As we wait for the final NTSB report in late 2026 or early 2027, the focus remains on the legacy of a man who helped build one of the largest banks in America while never forgetting his roots on a Minnesota farm.
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To stay updated on the final findings, you can monitor the NTSB's official accident database using the aircraft registration associated with DGW Enterprises. For those in the Twin Cities, supporting the charities Terry championed—like Catholic Charities or the Minneapolis Foundation—is the most direct way to honor the impact he left behind.