From a Minnesota farm to bank headquarters: Terry Dolan remembered after fatal plane crash

Terrance “Terry” R. Dolan, a U.S. Bancorp executive who provided his financial expertise to benefit civic causes, is presumed dead after his single-engine airplane crashed into a Brooklyn Park home Saturday. He was 63.

Dolan, first hired at the Minneapolis-based bank in 1998, became chief administrative officer in 2023 after holding other leadership roles, including chief financial officer. He was also vice chair of the bank. He grew up on a farm near Lucan, Minn., where he was part of a large Irish Catholic family.

Authorities on Monday had yet to officially release the identity of the sole person killed in the crash. Leaders with U.S. Bank were the first to tie it to Dolan, telling employees the longtime executive had been flying his plane home from Naples, Fla., to Minneapolis, stopping in Des Moines.

The crash occurred roughly 10 miles from where Dolan kept his airplane at the Anoka-Blaine Airport, which houses recreational and corporate aircraft. Dolan held a private pilot license since October 2008, according to FAA records.

Authorities, including officials with the National Transportation Safety Board, continued to investigate Monday what caused the plane to go down in the residential neighborhood. One home was destroyed but no one on the ground was hurt.

The NTSB’s preliminary report is expected within two weeks, but a final determination of the cause could be several months away or longer.

Born April 17, 1961, Dolan grew up in the rural community about 140 miles southwest of Minneapolis in Redwood County, the 10th of 13 brothers and sisters. He remained a close member of the tight-knit and large extended family, his older brother, Mike Dolan, said by phone Monday.

The Dolans grew up on a farm that “did a lot of things to make a living,” Mike Dolan said, including growing corn and soybeans. The family traces their history to the northern part of Ireland and ancestors who came to America during the 1840s.

Between 1979 and 1983, Dolan studied accounting at the University of St. Thomas, an alma mater shared by many in the Dolan family, who counted a record number of athletes in the university’s ranks.

Dolan dated and married his wife, Susan Mix, of Tracy, Minn., while the two were in college. Susan went to Augsburg University. The couple married in October 1982. They raised two daughters and have six grandchildren.

The Dolans have a decadeslong tradition of playing baseball in southwestern Minnesota, dating back to a family connection with the Milroy Yankees in a town of less than 250 people near Lucan.

Mike Dolan said his younger brother kept a solid commitment to his extended family, returning for large gatherings around Thanksgiving, Christmas, Easter and an annual family golf tournament.

“He’s going to be missed a lot,” Mike Dolan said, adding that Terry was an inspiration to his many nieces, nephews, brothers and sisters along with his immediate family. “He was a darn good brother.”

Mike Dolan said Terry had a strong commitment to the community rooted in the values he learned from boyhood in the Catholic faith.

“If somebody could use his talents, he was happy to lend them,” Mike Dolan said.

On Monday, U.S. Bancorp CEO Andy Cecere said in an email to employees that he had the privilege of working alongside Dolan for more than 25 years. He called the news a shock that has deeply saddened many U.S. Bank employees.

“Our loss is profound,” Cecere, who attended St. Thomas alongside Dolan, wrote in the email. “Terry was an outstanding businessman, but more importantly, he was a wonderful person. He cared deeply about the people he worked with and the teams he led, and his legacy can be seen everywhere we look.”

News of the crash rippled quickly across Minnesota within civic communities, with Dolan having served on various boards in the Twin Cities.

Tim Marx, former CEO and president of Catholic Charities, where Dolan was a board member, said Dolan’s expertise, connections with community leaders and position at the bank helped bring to fruition the Dorothy Day Center, a St. Paul residential housing project.

“I remember him as a kindhearted, razor-sharp mind, all-in community person who had a joyfulness about him that really inspired people and did so much for the community, including Catholic Charities,” Marx said.

Former Minneapolis Mayor R.T. Rybak said in an interview that Dolan was “an exceptionally kind human being who also wound up having a huge impact in the community.” He made reference to his work on the investment committee for the Minneapolis Foundation as a testament to Dolan’s leadership and ability.

Rybak said Dolan’s winning personality and talent shone on the all-star team of investment minds overseeing $1 billion in foundation assets.

Hannah Stauts, executive director of the Killebrew Thompson Memorial annual golf tournament dedicated to cancer research, said Dolan was a “deeply valued member” of the community as the organization’s board chairman.

“Terry made a lasting impact through his service on our board, his guidance to our team, and the care he brought to his role,” Stauts said in a statement. “We are deeply grateful for all he gave to KTM, and his absence will be profoundly felt.

“Our thoughts are with Terry’s family and the entire U.S. Bank community during this difficult time.”

Sally Mullen, a law professor for the University of St. Thomas who worked under Dolan as U.S. Bank’s chief fiduciary officer for six years, called him a “very capable and prescient leader.” She said he encouraged employees to think freely and take risks and maintained an interest in resolving client concerns.

Mullen recalled Dolan’s passion for aviation, saying he once hosted a nonprofit event at the Anoka-Blaine airport that featured astronauts Buzz Aldrin and Jim Lovell as guests of honor. He got to introduce them both during the event, she said.

“He was just glowing,” Mullen said in an interview Monday.

Sarah Ritter and Eva Herscowitz of the Minnesota Star Tribune contributed to this story.