Remembering Jay Dunlap

January 28, 2025
A photo of Jay Dunlap, Angie Muhleisen, and Jason Muhleisen
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It is with heavy hearts that we share the passing of a pillar of our organization, former President and CEO Jay Dunlap. Jay was born on November 15, 1930, and died on January 24, 2025, at the age of 94. He leaves behind his beloved wife Shirley; his children, grandchildren, and great-grandchildren; and the communities that have benefited from his generous heart and servant leadership.

As a young man, Jay attended Douglas Public School and graduated with his class in 1948. He attended Nebraska Wesleyan University for two years, served in the Navy for two years, and then finished his education at the University of Nebraska, where he earned his law degree. He also met his wife Shirley at UNL’s Freshman Hop, and they married in 1953. Upon graduating in 1956, the newlyweds eventually put down roots in Milford, Nebraska, where Jay worked with his brother Alan, who had purchased Farmers & Merchants Bank. They had four children, Suzie, Debbie, Angie, and Mike.

In 1965, the Dunlaps had the opportunity to purchase Union Bank & Trust Company. Jay hit the ground running as the bank’s President, a role he filled for 20-plus of his 50 years at UBT. Jay saw banking as a people-first business, which brought him great joy. He was once quoted as saying, “I’m sold to the bottom of my shoes that credit can do something that nothing else can do. It allows you to buy a house. It allows you to buy a car. It helps you fulfill the dream of the person who wants to borrow. What better job is there than to be a dream maker?”

In his years at the helm of Union Bank & Trust, Jay and the team he built — starting with just a couple dozen employees and $10 million in assets back then — became known for creating and fostering a culture that emphasized caring about each other, our customers, and our community. He famously described his priorities as “Faith, family, friends, and work, in that order,” and he led by that example every day. 

That culture endures today, and we owe our core principles to his leadership and the values he instilled in his daughter, former CEO Angie Muhleisen, and his grandson, our current CEO Jason Muhleisen. Jay’s commitment to UBT didn’t stop after his time as CEO came to an end, either; he maintained an office at the bank until the age of 93 and could always be counted on to share his extensive knowledge (or a good laugh!). 

Jay loved connecting with others, and felt immensely proud of the people of UBT and what the bank has accomplished since his first day back in 1965. We are all grateful for his leadership and for the wisdom and business acumen with which he guided the bank during his tenure as CEO and beyond. We know our organization wouldn’t be the same without him. 

In Jay’s honor, we encourage you to spend a little extra time today caring for those around you. Thank you for being part of the UBT family.

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