The robbery occurred at approximately 10:05 a.m. at the branch along the 500 block of Central Avenue.
Police say the suspect entered the bank, approached a teller, and placed a silver handgun on the counter.
He then demanded money.
After obtaining an undisclosed amount of cash, the suspect fled the area on foot.
He was last seen heading west on Laurel Avenue.
The suspect is described as a male, approximately 5'4-5'5. He wore a black scarf across much of his face, a gray hooded sweatshirt with the word "NIKE" and the "swoosh" logo in black across the front, an orange or red shirt underneath the sweatshirt, and black pants.
The suspect is considered armed and dangerous.
Anyone with information about this robbery or this suspect is urged to call the Cheltenham Township Police Department at 215-885-1600 ext. 777, or the the FBI at 215-641-8910. There may be a reward for information leading to this subject's capture; tipsters can remain anonymous.