John D. Wallace (“Jack”), 92, beloved husband, father, grandfather, great-grandfather, uncle, and friend, died peacefully at home in Princeton on May 1, 2025, with his wife, Happy, and children, Chris and Margie by his side. He was predeceased by his parents Margaret Cook Wallace and John H. Wallace, his younger siblings Bill and Penny Wallace, and his son John who died from AIDS in 1990. In addition to his wife and children, Jack is survived by his son-in-law, Peter; six grandchildren: Chris Gibson (Katie Kwon-Gibson), Katie Gibson, Cordy Gibson, Coby Gibson, John Wallace, and Lila Wallace, and his great- granddaughter Lucie Kwon-Gibson.
Jack was born in Trenton on February 12, 1933. He grew up in Princeton, attended Princeton Country Day, and graduated from The Hotchkiss School in 1951 where he enjoyed drama, debate, and soccer. He attended Princeton in the Naval ROTC program, and, after graduating in 1955 with a degree in international and public affairs, served in the United States Navy, eventually becoming Admiral’s Aide to the Vice Admiral in command of the Atlantic amphibious fleet.
After the Navy, Jack started a financial career with Hanover Bank and then Morgan Stanley in New York. In the fall of 1958, he met Happy Goebel. They enjoyed their first date at the Princeton-Dartmouth football game at Palmer Stadium and were engaged just six weeks later and married at Fort Myer Chapel, Arlington, Virginia on September 12, 1959.
Jack’s career in banking took root close to home in Trenton. After early years on Wall Street, he joined First Trenton National Bank, a predecessor of New Jersey National Bank and eventually Corestates. He started as an assistant cashier and ended his career as CEO. After guiding the bank during the early years of interstate banking, he retired in 1993 so that he could focus on his family, a little bit of tennis and golf, and favorite community institutions.
While Jack loved advising and lending to businesses to help them grow, he took special pride in the town of Princeton and its vibrancy. Like his father who was mayor, Jack served on the Princeton Township Committee and as mayor, in 1969–1970, and again in 1972. In politics, his inspirations included George Washington—“who could not tell a lie”—and Abraham Lincoln with whom he shared the February 12 birthdate.
Many local non-profit and educational organizations benefited from Jack’s leadership including McCarter Theater, the Princeton Area Community Foundation, Princeton Day School (PDS), Princeton Senior Resource Center, Trinity Counseling, the University Medical Center at Princeton and the Watershed Institute.
At PDS, with 23 years on the board, Jack was exceedingly generous with his strategic guidance and financial support. Indeed he was the School’s longest-serving trustee. In 1993, for his impact, Jack earned the school’s highest volunteer and career service award, which was subsequently renamed the John D. Wallace ’48 Alumni Service Award. After the profound loss of their son John, Jack and Happy decided to memorialize John’s creativity and spirit by establishing the John D. Wallace Jr. ‘78 Memorial Guest Artist Series. This fund established Imagine the Possibilities, a schoolwide program, which brings renowned authors, poets, and illustrators to the PDS community. Happy and Jack returned every year to PDS to enjoy these guests and just this past April, Jack’s last outings were attending the 29th year of this remarkable Imagine the Possibilities program.
Throughout 2024 and into 2025, Jack remained active with the Bedens Brook Club and the Nassau Club, at Princeton Day School, Princeton Investors Group, and the Princeton Class of 1955. He regularly attended book club gatherings and lunches with a group of friends who playfully called themselves “Malaprop.”
In all of his activities, Jack gracefully blended a wry sense of humor, practical vision, and steady optimism to bring people together and make good things happen. While his presence in the community was profound, his devotion to his family was boundless and his love for his beloved Happy unwavering.
A Celebration of Life will be held at Trinity Church, Princeton, NJ on Tuesday, June 17th at 11:00 am.
In lieu of flowers, donations may be made to Princeton First Aid and Rescue, the Princeton Area Community Foundation, or any other cause meaningful to Jack’s legacy.
