32-year-old Paul Raffa was taken in to custody Friday.
Just Thursday afternoon, authorities say Raffa went into a PNC Bank branch on the 1100 block of Market Street.
He allegedly presented a demand note and told bank officials that there was a bomb inside a bag. The suspect left the bag as he fled with over $3,000.
The bomb squad was called to the scene and later discovered the device to be a water bottle.
Market Street between 11th and 12th streets was closed while the investigation was ongoing.
