Police say the 55-year-old woman was preparing to make a night deposit at a bank near the CVS store in the 2600 block of East Cumberland Street when a man came up behind her and snatched the bag.
Officials say there may have been over $20,000 in cash in the bag.
They say the man was last seen getting into a dark colored Chevy Suburban.
The incident is under investigation.
Anyone with information is asked to contact police.
