Southfield police spokesman Lt. Nick Loussia tells The Associated Press that the boy broke a window to get inside the bank about 3 a.m. Friday.
Loussia says additional information about the case is expected to be released later in the day.
WDIV-TV broadcast video of the child being led out of the Bank of America branch in handcuffs.
In the station's video, what appears to be cash and rolls of coins are seen out on a counter inside the bank. Shattered glass was on the ground at the door.