Police have yet to release the suspect's name, but say he'll be charged with robbing the First National Bank in Squirrel Hill, an upscale neighborhood a few miles east of downtown, about 9:10 a.m. Wednesday.
Police gave chase when they spotted the suspect soon after, with one officer crashing into a tree a Hillel Academy. The school kept students in classrooms and away from windows as part of its emergency plan, but no students and no officers were hurt.
Police say they've also recovered a gun, though they stopped short of saying whether it was used in the robbery.
Authorities expect to release more information later in the day.