It happened on a quiet Saturday afternoon in March. Around 12:20 p.m., the sky over Brooklyn Park, Minnesota, was shattered by the sound of a descending engine that didn't sound right. Seconds later, a Socata TBM 700—a high-performance single-engine turboprop—slammed into a residential roof on Kyle Avenue. The resulting fireball was massive. Inside that plane was Terry Dolan, a man whose name was synonymous with the upper echelons of U.S. Bancorp leadership.
He was 63.
For most people watching the news that day, it was a tragic headline about a wealthy executive. But for those in the Twin Cities and the banking world, the Terry Dolan US Bank plane crash was the loss of a strategist who helped steer one of the largest banks in America through some of its most transformative years.
Honestly, the details coming out of the NTSB reports are haunting. Dolan was an experienced pilot. He’d held his private license since 2008. He wasn't some novice taking a joyride; he was flying home from Naples, Florida, making a routine stop in Des Moines to refuel before the final leg to Anoka County-Blaine Airport. He was just five miles from the runway when things went south.
The Reality of the Terry Dolan US Bank Plane Crash
When a high-profile executive dies in a private aircraft, the rumors start instantly. Was it mechanical? Was it a medical emergency? Was he distracted?
The preliminary National Transportation Safety Board (NTSB) report released in April 2025 painted a chilling picture of the final minutes. Air traffic control at the Anoka County-Blaine tower had already cleared Dolan to land on Runway 9. He’d acknowledged the weather. Everything seemed fine.
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Then, silence.
The plane began a "sharp descent" from about 3,000 feet. The tower issued a low-altitude warning. No response. A doorbell camera nearby captured the final moments: the plane wasn't just gliding; it was in a "nosedive and a spin." It clipped trees and then punched through the roof of Kenneth Tobacman's home.
Why the "Mechanical Failure" Theory is Complicated
Investigators looking at the wreckage in the basement of that destroyed house found something surprising. Or maybe, unsurprising, depending on how you view aviation safety. There were no immediate signs of engine failure. The flight control cables were still connected. The propeller had even sliced through tree limbs 100 feet away, which usually indicates the engine was still producing power upon impact.
This leads experts to look at the human element. Did he suffer a medical event? The Hennepin County Medical Examiner cited "multiple blunt force injuries" as the cause of death, which is standard for high-velocity impacts, but it doesn't tell us if something happened before the descent.
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Who Was Terry Dolan? (Beyond the Suit)
You can’t talk about the Terry Dolan US Bank plane crash without talking about the guy's actual life. He wasn't born with a silver spoon. He grew up on a farm near Lucan, Minnesota, the 10th of 13 children in a sprawling Irish Catholic family.
Think about that for a second.
Growing up in a house with 12 siblings teaches you how to negotiate, how to be heard, and how to work. His sister, Jean, remembers he hated cleaning chickens. He preferred sports—football, basketball, track. He eventually made it to the University of St. Thomas, studied accounting, and started a 25-year climb at U.S. Bank.
By the time of the crash, he was the Vice Chair and Chief Administration Officer. He had previously served as the CFO for seven years. If you look at U.S. Bancorp’s growth and their "digital transformation" over the last decade, Dolan’s fingerprints are all over it.
A Legacy of "All-In" Philanthropy
A lot of execs sit on boards just for the resume boost. People who knew Dolan say he was different. Tim Marx, the former head of Catholic Charities, said Dolan was "all in." He was instrumental in getting the Dorothy Day Center built in St. Paul—a massive project for the homeless.
He also had a fun side. He reportedly loved red licorice and Mountain Dew. He’d sing Irish folk songs at the "Dolan Family Classic" golf tournament. He was a guy who would spend his Saturdays wandering the aisles of a hardware store just to tinker with things.
Lessons for High-Net-Worth Pilots
Basically, the Terry Dolan US Bank plane crash serves as a grim reminder for the "pro-pilot" community. The Socata TBM 700 is a "complex" aircraft. It’s fast. It’s powerful. It requires constant proficiency.
Even with decades of experience, the "final approach" phase is the most dangerous part of any flight. Statistics from the FAA show that a significant portion of general aviation accidents occur within five miles of the destination airport.
If you are a pilot or someone who flies privately, there are a few takeaways here:
- The "Silent" Warning: When air traffic control goes quiet or a pilot stops responding to low-altitude alerts, it almost always points to either spatial disorientation or a sudden medical incapacitation.
- Maintenance Isn't Everything: You can have a perfectly maintained plane—as Dolan’s appeared to be—and still face a catastrophe if the human-machine interface breaks down.
- Lake Cabin Paradox: Many pilots flying to familiar territory (like Dolan flying to his home base) can fall into "habituation," where the brain skips steps because the route is so routine.
What Happens Now?
The investigation into the Terry Dolan US Bank plane crash isn't technically over. While the preliminary report is out, the final NTSB probable cause report can take 12 to 24 months. They will be looking at everything from his 72-hour sleep history to the microscopic analysis of the engine's fuel pump.
U.S. Bank has moved on in terms of leadership—they have to—but the "shocking emotional blow" mentioned by analysts at the time still lingers. For the family in Brooklyn Park who lost their home, the recovery is physical. For the Dolan family, who lost a father of two and a grandfather of six, the gap is much larger.
To stay informed on the final findings or to understand more about aviation safety protocols, you should:
- Monitor the NTSB Accident Database: Search for the March 29, 2025, incident involving the Socata TBM 700 to read the full factual report once released.
- Review Corporate Governance Shifts: Watch how U.S. Bancorp adjusts its administrative leadership in the wake of losing a CAO who managed such a broad portfolio of strategy and digital growth.
- Support Local Impact: Consider looking into the Minneapolis Foundation or Catholic Charities Twin Cities, the organizations Dolan spent his "free" time building up.
The story of the Terry Dolan US Bank plane crash is more than just a tragic accident; it’s a study in how a life built on rural hard work and corporate brilliance can be cut short in a matter of seconds, five miles from home.