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Yahoo
22-04-2025
- Business
- Yahoo
U.S. Bank shares tribute on earnings call to executive Terry Dolan who died in Minnesota plane crash
honored longtime executive Terry Dolan during its first earnings call of the year, following his death in a plane crash on March 31, where he was the sole passenger. Remembered for his leadership, warmth, and community contributions, Dolan was celebrated by colleagues and investors for his pivotal role in the bank's growth and his deep commitment to philanthropy. On its first earnings call of the year U.S. Bancorp executives remembered their former colleague Terry Dolan, who died in a plane crash in Minnesota last month. Previously the bank said it believed Dolan had died when the Socata TBM 700 airplane registered in his name crashed into a home near Brooklyn Park on the outskirts of Minneapolis on March 31. On April 1 authorities confirmed Dolan, 63, had been the pilot and sole passenger on board the flight. "As we collectively mourn the loss of our dear friend and colleague, Terry Dolan, the U.S. Bank family truly appreciates the outpouring of support and heartfelt condolences we've received from far and wide. Our prayers continue to be with his family and friends during this most difficult time," CEO Gunjan Kedia said in a press release ahead of the earnings call. On the call investors and analysts shared their condolences with the team at U.S. Bank, remembering Dolan's "big smile and warm embrace." "He'll be missed by everybody on this call and throughout the investment community," added Gerard Cassidy, an analyst at RBC Capital Markets. Kedia, who had taken over the top job at U.S. Bank days before the earnings update, opened her remarks with thanks to those peers, adding: "We have truly appreciated the outpouring of support we have received from the investment community since his tragic passing last month and our thoughts remain with his friends and family." Per a statement from the FAA, Dolan's plane departed from Des Moines International Airport in Iowa and was bound for Anoka County-Blaine Airport in Minneapolis. The accident occurred at approximately 12.20pm. One person was in the home that the plane crashed into, but the individual was able to escape safely. Dolan was born and bred in Minnesota, where U.S. Bank is based, and was the tenth of 13 children in a busy farming family. Per his obituary in 'The Minnesota Star', Dolan was a keen sportsman who met his wife, Susan Mix, at a golf club, and the pair married in 1982. A year later, Dolan graduated from Minnesota's University of St Thomas with a degree in accounting. He began his career in public accounting before specializing in banking. The Dolan family moved to Ohio but returned to their home state in 1998 courtesy of an offer to join U.S. Bank. At America's fifth-largest bank, Dolan served in a range of roles, including vice chair of wealth management and investment services, executive vice president and controller, chief financial officer and ultimately vice chair and chief administration officer. Dolan is credited with helping lead the bank on its journey of growth and digital transformation, while maintaining its well-reported focus on strong risk management and finances. The executive also let the bank's community development work, including investments in areas such as affordable housing and renewable energy tax credit financing. Dolan's fellow alumni at the University of St Thomas include U.S. Bank's former CEO Andy Cecere, who wrote in a communication to employees before his departure: '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. "I have been reflecting on Terry's life and the friendship we shared in the few quiet moments we've had since this news first reached us. I have known him since college, and it has been a privilege working with him here for more than 25 years.' Dolan was also remembered for his philanthropy. At St Thomas, for example, he established the Dolan Family Endowed Scholarship fund in 2012 to support undergraduate students with academic merit in support of financial need. He also served on the boards of a number of charities and cultural organizations such as the Minnesota Opera. This story was originally featured on Sign in to access your portfolio
The Guardian
31-03-2025
- The Guardian
US Bank vice-chair Terry Dolan believed to be on board crashed plane in Minnesota
A plane registered to US Bank vice-chair Terry Dolan crashed over the weekend in Brooklyn Park, Minnesota, and his organization fears he was on board. The Minnesota-based lender said the medical examiner's office has not been able to confirm whether Dolan was on board at the time of the crash. But 'we believe he was', US Bank said in a statement on Sunday, the day after the crash. In addition to vice-chair, Dolan became the lender's chief administration officer in 2023, according to the company's website. The National Transportation Safety Board said it is investigating the crash of a Socata TBM 700 airplane on Saturday near Brooklyn Park, Minnesota. The NTSB said preliminary information indicated only one person was on board. But it does not release the identities of those involved in crashes. Officials said on Sunday in a statement that the local medical examiner's office was still working on recovering and confirming the identity of anyone on board the fallen aircraft. The plane had departed Des Moines international airport in Iowa and was bound for Minnesota's Anoka County-Blaine airport when the crash occurred, CBS News reported, citing the Federal Aviation Administration. The plane crashed into a home where two people lived. Only one of the residents was there at the time of the crash and 'was able to escape safely', Brooklyn Park officials said in a statement on Sunday. Reuters contributed reporting
Yahoo
31-03-2025
- General
- Yahoo
Officials: US Bank exec from Minnesota piloted the plane that crashed in Brooklyn Park
Federal authorities arrived in Minnesota on Sunday to start their investigation into a small plane that departed from Des Moines and crashed into a Brooklyn Park home on Saturday. Investigators said the crash killed all aboard the single-engine turboprop plane, engulfing the house in flames. The Socata TBM 700 plane crashed in the Minneapolis suburb around 12:22 p.m. Saturday, the Federal Aviation Administration said. The aircraft departed Des Moines International Airport and was headed to Anoka County-Blaine Airport in Minneapolis, according to the agency. There were no survivors in the plane, Brooklyn Park Fire Chief Shawn Conway said Saturday. Investigators believe one person, the pilot, was on board the aircraft, but did not release any names on Sunday. The plane was registered to U.S. Bank executive Terry Dolan, the company told USA TODAY Sunday. "At this time, the medical examiner's office has not been able to confirm whether he was on board, but we believe he was," company spokesperson Jeffrey Shelman told USA TODAY. "Our thoughts and prayers are with him, his family and friends, and anyone who may have been affected by yesterday's tragic incident." Dolan was named chief administration officer of U.S. Bancorp in 2023, according to the company's website. He was also on the board of directors for boards of directors for Catholic Charities, the Minnesota Opera, Artspace, The Minneapolis Foundation and the College of Saint Benedict and Saint John's University, the Bancorp website stated. He also holds a bachelor's degree from the University of St. Thomas. More: Update: No survivors on plane that crashed in Minnesota According to FlightAware, the single-prop plane flew from Naples, Florida, and stopped in Des Moines at around 10:30 a.m. The plane took off 45 minutes later. The Socata TBM 700 left Des Moines International Airport at 11:12 a.m. and was scheduled to land in Blaine sometime between 12:11 p.m. and 12:28 p.m., according to the FAA and flight records. The northern flight path was about 280 miles. The plane crashed six minutes before its scheduled landing time. Officials do not know if any additional passengers boarded the flight while it stopped in Des Moines. Tim Sorensen, an aviation accident investigator with the National Transportation Safety Board, said he arrived in Minnesota on Sunday to begin documenting the site. "We will begin recovering the aircraft later this afternoon, and the aircraft will be taken to a secure location where a more detailed examination will be conducted," he said during a press conference on Sunday. Investigators will also look at the weather, the background experience of the pilot, the status of the aircraft, the maintenance of the aircraft and other factors that could have caused the crash. "The investigation is just getting started. We don't have a lot of answers right now," Sorensen said. Sorensen said the fire caused "significant damage" to the plane. A preliminary report should come out in 10 to 14 days, he said. More: No survivors on plane that crashed in Brooklyn Park The plane is registered to DGW Enterprises in Edina, Minnesota. Officials said the plane landed on the roof of the home in Brooklyn Park and engulfed the home in flames upon impact. There was one resident in the home at the time who was able to escape and sustained no injuries, Conway said. (This article was updated with new information.) Kyle Werner at the Des Moines Register and John Bacon and Karissa Waddick from USA TODAY contributed to this article. This article originally appeared on Des Moines Register: Officials say US Bank exec on board the plane that crashed in Minnesota
Yahoo
30-03-2025
- Yahoo
U.S. Bancorp vice chair's plane crashed on Saturday, bank says it believes he was on board
(Reuters) - A plane registered to U.S. Bancorp's Vice Chair Terry Dolan crashed in Brooklyn Park, Minnesota on Saturday, the bank said in a statement on Sunday. The Minnesota-based lender said the medical examiner's office has not been able to confirm whether Dolan was on board, but "we believe he was." In addition to vice chair, Dolan became the lender's chief administration officer in 2023, according to the company's website The National Transportation Safety Board said it is investigating the crash of a Socata TBM 700 airplane on Saturday near Brooklyn Park, Minnesota. The NTSB said preliminary information indicated only one person was on board, but it does not release the identities of those involved in crashes. The plane had departed Des Moines International Airport in Iowa and was bound for Anoka County-Blaine Airport when the crash occurred, CBS News reported, citing the Federal Aviation Administration.
Reuters
30-03-2025
- Business
- Reuters
U.S. Bancorp vice chair's plane crashed on Saturday, bank says it believes he was on board
March 30 (Reuters) - A plane registered to U.S. Bancorp's (USB.N), opens new tab Vice Chair Terry Dolan crashed in Brooklyn Park, Minnesota on Saturday, the bank said in a statement on Sunday. The Minnesota-based lender said the medical examiner's office has not been able to confirm whether Dolan was on board, but "we believe he was." The Reuters Tariff Watch newsletter is your daily guide to the latest global trade and tariff news. Sign up here. In addition to vice chair, Dolan became the lender's chief administration officer in 2023, according to the company's website The National Transportation Safety Board said it is investigating the crash of a Socata TBM 700 airplane on Saturday near Brooklyn Park, Minnesota. The NTSB said preliminary information indicated only one person was on board, but it does not release the identities of those involved in crashes. The plane had departed Des Moines International Airport in Iowa and was bound for Anoka County-Blaine Airport when the crash occurred, CBS News reported, opens new tab, citing the Federal Aviation Administration.
