U.S. Bank believes one of its executives died in a plane crash on Saturday in Minnesota.

Terry Dolan, 63, is vice chair and chief administration officer of U.S. Bancorp, according to the financial institution's website. A small plane registered to him crashed into a home in Brooklyn Park near Minneapolis, a U.S. Bank spokesperson confirmed to FOX Business.

"At this time, the medical examiner's office has not been able to confirm whether he was on board, but we believe he was," a statement said, extending "thoughts and prayers" to him, his family, friends and anyone impacted by the incident.  

Dramatic video captured the aftermath of a home being engulfed in flames after a SOCATA TBM7 crashed in a residential area just before 12:30 p.m., the Federal Aviation Administration (FAA) confirmed to Fox News Digital.

The plane departed from Des Moines International Airport in Iowa and was headed to Anoka County-Blaine Airport in Minneapolis, according to the agency.

Local police told FOX 9 Minneapolis-St. Paul no one inside the home was injured.

Dolan became U.S. Bank CAO in 2023, according to his online biography. He is described as "a leader in the bank’s focus on driving growth and digital transformation" and as someone "actively involved in numerous community organizations that provide services to the homeless, arts and culture, and higher education."

Dolan has a Bachelor's degree from the University of St. Thomas. 

The FAA and National Transportation Safety Board (NTSB) will continue to investigate the crash.

"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," U.S. Bank's statement concluded. 

FOX News Digital's Stepheny Price contributed to this report.