U.S. Bank CEO Andy Cecere confirmed Monday that Terry Dolan, the lender’s chief administration officer, died Saturday when a plane he was flying crashed in the  Minneapolis suburb of Brooklyn Park.

“Our loss is profound. Terry was an outstanding businessman, but more importantly, he was a wonderful person,” Cecere wrote in an e-mail to employees. “He cared deeply about the people he worked with and the teams he led, and his legacy can be seen everywhere we look.”

Dolan, who also serves as vice chair, took on the role of chief administration officer in 2023. He has served on several boards, including Catholic Charities Twin Cities.

“(The news) just really hit me hard,” said former Catholic Charities Twin Cities CEO Tim Marx. “It was a real sad shock.”

The Federal Aviation Administration reported the crash occurred at about 12:20 p.m. Saturday. Officials said only one person was on board the Socata TBM 700, which had departed Des Moines International Airport and was bound for Anoka County-Blaine (Minnesota) Airport. The National Transportation Safety Board is investigating.

The single-engine plane struck the roof of a Brooklyn Park home, setting the home on fire and destroying the structure, the Minnesota Star Tribune reported.

Read more at Banking Dive.