Commerce Bank, located at 3731 Walnut Street, was robbed yesterday morning at around 9 a.m.
According to police at the scene, a man allegedly entered the bank, gave a teller a threatening note demanding cash and then fled on foot.
The joint Federal Bureau of Investigation-Philadelphia Police Department Violent Crimes Task Force is looking for a stocky, clean-shaven black man around 5'5" tall.
He was last seen wearing a puffy black winter jacket, a black knit cap and a white T-shirt.
Commerce Bank Vice President of Corporate Communications David Flaherty confirmed that there were no injuries.
"With these incidents, we're always just very glad that none of our customers or employees was hurt," he said.
"To the best of my knowledge, there were no weapons displayed," he added.
Flaherty said he did not believe the Walnut Street branch was a target for holdups "any more so than any other bank."
The bank was robbed in almost exactly the same way in November 2001.
In the seventh robbery at that branch in five years, a man made off with $3,000 after handing a teller a threatening note.
A male 6' tall in his late 30s and described as having a heavy build, according to Penn Police, was last seen by one of the bank's managers wearing a brown hat and brown jacket. He reportedly escaped in a light blue Subaru station wagon driven by another man.
Previous robberies include a February 2001 incident in which an armed male was arrested for allegedly approaching a teller in the bank and demanding that he fill a bag with money.
Another robbery occurred at the bank's Walnut Street location in December 2000, when, as in the current case, a teller was given a note demanding money and the robber fled with $2,000 in cash.
And in an October 2000 incident, a male suspect, who was subsequently arrested by the FBI for another bank robbery in southern New Jersey, allegedly fled with $700 in cash.
Other robberies occurred in March 1996, March 1997 and July 1999.
"You don't expect that kind of crime to happen here," said a Spectaguard security guard who did not want his name printed, as he watched Philadelphia police seal the bank and conduct their investigation.
Offering his opinion as a security professional, he summed up the situation.
"One thing's for sure -- security needs to be improved over there."
Anyone with information about yesterday's incident is encouraged to contact the Violent Crimes Task Force at (215) 418-4000.
Though it was closed while Philadelphia police conducted an investigation, the branch was open for business again by 11 a.m.
