U.S. Bank Vice Chair Terry Dolan Believed to Be Among Victims of Deadly Minnesota Plane Crash

A U.S. Bank executive is believed to be among the victims of a plane crash in Minnesota that left no survivors.

The small plane registered to Terry Dolan, U.S. Bank’s vice chair and chief administration officer, had departed from Des Moines International Airport in Iowa and was heading toward Anoka County-Blaine Airport in Minneapolis when the crash occurred on Saturday, CBS News reported. The plane crashed into a home in Brooklyn Park during the incident.

Brooklyn Park Fire Chief Shawn Conway said it was unclear how many people were on board the plane, but there were no survivors on the aircraft, according to NBC News.

A spokesperson for U.S. Bank said in a statement obtained by PEOPLE on Monday, March 31, that they were unable to confirm if Dolan was on board at the time of the incident, but “believe he was.”

“We are aware that the plane that crashed in Brooklyn Park on Saturday afternoon was registered to Terry Dolan, our vice chair and chief administration officer. At this time, the medical examiner's office has not been able to confirm whether he was on board, but we believe he was," the statement began.

"Our thoughts and prayers are with him, his family and friends, and anyone who may have been affected by yesterday's tragic incident," the statement continued. "We are grateful that there were not any injuries to residents of the home that was impacted by the crash, and we thank all the first responders who have provided service."

The Brooklyn Park Fire Department was dispatched at around 12:22 p.m. local time on Saturday, following reports of an aircraft incident and a home on fire. 

Two people lived in the house, but just one was home at the time of the incident. Despite the property being set ablaze, the individual was uninjured and able to safely evacuate, NBC News reported. 

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The National Transportation Safety Board (NTSB) identified the plane as a single-engine SOCATA TBM7 in a post on X.

The plane’s tail number was shared with NBC News by a senior government official, while searches in the Federal Aviation Administration registry and the Office of the Minnesota Secretary of State business records proved Dolan is responsible for the business to which the aircraft is registered.

The Hennepin County Medical Examiner's Office has not officially identified the pilot, while the NTSB is still investigating the plane’s itinerary, according to CBS News.

Dolan, 63, had a “passion for flying and his plane,” Tim Marx, Catholic Charities' former CEO, told the outlet. The pair worked closely together while Dolan was on the board of directors for Catholic Charities Twin Cities from 2012 to 2017.

“[The news] just really hit me hard," Marx said. "It was a real sad shock."

According to Dolan's page on the U.S. Bank website, he became CAO in 2023, with previous roles in the firm, including chief financial officer and executive vice president.

The NTSB is set to release a preliminary report in the next few weeks. However, it may take years to find out the cause of the crash, local news outlet KARE 11 reported. 

PEOPLE has reached out to U.S. Bank and the Brooklyn Park Fire Department for comment.