Grand jury indicts man for allegedly robbing North Branch bank

by Madeleine Baran, Minnesota Public Radio

North Branch, Minn. — A federal grand jury indicted a Cambridge man Friday for allegedly robbing a bank in North Branch.

Rick Steven Wallat, 58, was charged with one count of bank robbery in connection with the Oct. 5 robbery at People's National Bank.

The indictment alleges that Wallat stole $8,850 from the bank, after he entered the bank and told the teller, "Don't do anything stupid."

After receiving the cash, he got into a vehicle and headed south on I-35W, the indictment claims.

Police spotted the vehicle shortly after the robbery and conducted a traffic stop. The officers found a dark stocking cap, insulated gloves, a black handbag full of cash, a demand note, and other items. Police then arrested Wallat.

If convicted, he faces a maximum penalty of 20 years in prison.