It happened around 10:30 a.m. on Foushee Street at Avondale Drive.
Authorities say a man wearing a long wig and makeup entered the bank and handed a teller a note saying that he had a gun.
The suspect fled the scene on foot towards McDonald's with an undisclosed amount of money.
Police are currently searching for the suspect. He was described as an African-American man wearing a navy blue shirt, white pants and gray tennis shoes. He changed clothes after he left the bank and was last seen going toward the intersection of East Club Boulevard and North Roxboro Street on a red or pink bicycle.
Anyone with information is asked to call Investigator Cook at (919) 560-4281, ext. 29119 or CrimeStoppers at (919) 683-1200. CrimeStoppers pays cash rewards for information leading to arrests in felony cases and callers never have to identify themselves.