The hostages are all employees of Wells Fargo, and were released to cheers from onlookers.
There are no current reports of injures but police and FBI are working with SWAT teams to watch over the bank.
Journalists on the scene report the presence of armoured vehicles and squad cars from St. Cloud, Sartell and Sauk Rapids police, the Stearns County Sheriff’s Office.
“We are cooperating with local law enforcement and will do whatever we can to assist the authorities in their investigation.
“We recognise this is a traumatic moment for the community and our colleagues.
“The safety and security of our customers and employees is our most important priority.”
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