The hold up occurred around 9:45 Monday morning at the bank on NE Third Street near Revere.
Police reacted quickly and were searching for the suspect in the vicinity of the Bend parkway and downtown region.
The suspect is tall -- estimated around 6'4" and was wearing a black hoodie sweatshirt. He had dark hair with grey at the temples.
Officers and canine units are out searching for the suspect.
We'll have more information as it becomes available.