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Police have arrested a man who allegedly threatened Geelong bank staff with a knife and demanded cash before fleeing empty-handed in an attempted armed robbery.

Armed Crime Squad detectives arrested the 55-year-old Winchelsea man in East Geelong about 10pm last night following the terrifying incident yesterday afternoon.

“He is currently in custody assisting police with their enquiries,” a Victoria Police spokesperson said.

Staff told police a man entered the Bendigo Bank branch with his face covered about 2.20pm before brandishing a knife and demanding cash.

But the man fled the bank on foot when its alarm sounded, police said.

Police cordoned off the bank and parked several marked and unmarked cars nearby as plain-clothes detectives investigated the scene.

Police searched for for the man in central Geelong and interviewed bank staff yesterday afternoon.

Armed Crime Squad detectives from Melbourne arrived at the bank later that afternoon.

None of the bank’s staff sustained injuries in the incident.

Shoppers continued to moved through the city unperturbed as the investigations continued.

Police urged witnesses or anyone with information on the incident to phone Crime Stoppers on 1800 333 000 or to make a confidential report at crimestoppers.vic.com.au.

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