Police said the male suspect implied that there was a weapon before taking an undisclosed amount of money and fleeing on foot.
There are no reported injuries, police said
"I was walking my dog after their dinner back behind the woods 20 feet past the woods when I saw the cop cars at the edge of the driveway and another one further back," said Terry Bunn, who lives nearby. "I noticed another cop car coming down this street."
Police searched the area for the suspect who was described as wearing a camouflaged jacket with his face covered in duct tape.
"About five minutes later, all the SBI agents showed up and then five minutes after that a police officer walked through my yard and told everyone to get back inside because they were actively looking for somebody," Bunn said. "So I scooped up the dogs and ran inside."
Another area resident, Robert Kerr, decided to play it safe and stay inside when he heard the news.
"We've got the Ring doorbell and we got an alert on that that there had been a bank robbery in the area," Kerr said. "So we looked out the window and saw a lot of police cars in the neighborhood so we just locked the doors and stayed inside."
As of late Thursday night, the suspect remained at large.
"I knew something was going on when I saw the blue lights so my curiosity was piqued so I just watched. It's just life. I trust Raleigh PD. They'll catch him when they can," Bunn said.
Anyone with information that might assist the investigation of the incident is asked to call Raleigh CrimeStoppers at (919) 834-HELP or visit raleighcrimestoppers.org for text and email reporting options.
CrimeStoppers pays cash rewards for anonymous tips that help solve cases.