According to Abington Township Deputy Police Chief John Livingood, Thomas entered the PNC Bank at 123 Old York Road in Jenkintown and demanded money around 11:30 a.m.
He fled the bank with an unknown amount of cash before heading south on Broad Street in a dark-colored SUV.
Police say the SUV was located and a pursuit began, crossing into Philadelphia.
Reports say there was a minor accident involving an Abington Police officer on Fox Street in Philadelphia during the chase with no injuries reported.
The pursuit continued into North Philadelphia at ended at West Oxford Street near 17th and Cecil B Moore when the suspect collided with an Abington Police car.
One officer was reported injured at the scene and was transported to Hahnemann Hospital where he was treated and released. He is expected to make a full recovery.
Thomas tried to run away but was caught a short time later and is now in custody.
Philadelphia Police did not become involved.
There were no other injuries reported.