Cambridge Man Sentenced for Robbing People’s National Bank in North Branch

A 58-year-old Cambridge man was sentenced earlier today in federal court in Minneapolis for robbing the People’s National Bank in North Branch on October 5, 2009. United States District Court Judge James M. Rosenbaum sentenced Rick Steven Wallat to 42 months in prison on one count of bank robbery. Wallat was indicted on October 21, 2009, and pleaded guilty on May 18, 2010.

In his plea agreement, Wallat admitted stealing $8,850 from the bank. According to a law enforcement affidavit filed in the case, Wallat entered the bank at 11:30 a.m. on October 5 and approached a teller. He handed her a demand note and said, “Don’t do anything stupid.” After obtaining a bag of money, Wallat grabbed his demand note and exited the bank. He then walked across the street, got into a vehicle, and headed south on Interstate 35. A short time later police spotted the vehicle traveling westbound on Isanti County Road 9. They conducted a traffic stop and, inside the car, found a dark stocking cap, insulated gloves, a black handbag containing cash, and a demand note. Wallat was immediately arrested.

This case was the result of an investigation by the Chisago County Sheriff’s Office and the Federal Bureau of Investigation.