UPDATED 05/19/11 1:37 p.m.

CHICAGO (CBS) — Three suspects are in police custody, after officers caught them in the middle of a bank robbery in the Wicker Park neighborhood.

As WBBM Newsradio 780’s Mike Krauser reports, two of the offenders were armed as they jumped the counter, grabbed some cash and took off from the First Merit Bank, 2130 W. North Ave. A third offender might have been the lookout.

LISTEN: Newsradio 780’s Mike Krauser reports

Chicago Police Tactical officers were on patrol when they heard an alarm go off at the bank, according to News Affairs Officer John Mirabelli.

“They [the officers] saw these guys running and they took three of them into custody. Two were armed with guns,’’ he said.

Bank employees pointed out the offenders as they tried to run.

One of the men started throwing the cash at one of the officers. It ended up all over the street.

A gun and discarded clothing were also spotted on the ground nearby.

“This was great, proactive police work by theses tactical officers sparing anyone from any injuries, both citizens and employees from the bank,’’ Mirabelli said.

The FBI was also sent to the scene around 11:30 a.m., according to spokeswoman Cynthia Yates.

The Sun-Times Media Wire contributed to this report.

Watch & Listen LIVE