The incident happened around 3:37 p.m.
According to detectives, the subject, described as a black man 55-60 years of age, 5'10" tall wearing a Toronto Blue Jays baseball cap, dark hooded jacket, scarf and jeans, entered TD Bank located at 855 Franklin Avenue and presented a demand note to a teller.
After obtaining an undisclosed amount of cash, the suspect fled in an unknown direction, police said.
Six employees and three customers were inside the bank at the time of the robbery. No injuries have been reported.
Detectives request anyone with information to call Crime Stoppers at 1-800-244-TIPS. All callers will remain anonymous.