A man and woman have been arrested at a home at Bulli in connection with an armed holdup at a bank in Thirroul.
Police led the pair away from a Point Street property shortly before 2pm on Friday.
The arrest came less than two hours after a man entered the Commonwealth Bank at Thirroul and demanded money from staff.
Police believe the man was armed with a firearm.
He was handed a sum of cash and ran from the bank, getting into a vehicle that was parked outside.
A description of the car was circulated among area police.
Wollongong Police Inspector Brad Ainsworth said police set up a perimetre at the Point Street property a short time later.
“We went to that Point Street [address] and located the car. The car tried to leave a short time later and the occupants were arrested.”
A man aged 42 and a woman aged 39 are assisting police with their inquiries.
Police are in the process of obtaining warrants to search the car and the Point Street address. No weapon has yet been located, Insp Ainsworth said.
The Commonwealth Bank was cordoned off and paramedics have assessed a bank employee, believed to be the woman directly involved in the holdup.
The bank will remain closed for the day.