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Man Holed Up At Corte Madera Bank Surrenders

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Corte Madera police at the Bank of America on Tamalpais Drive on March 14, 2011, following reports of a gunman locked inside the bank. (CBS)

Corte Madera police at the Bank of America on Tamalpais Drive on March 14, 2011, following reports of a gunman locked inside the bank. (CBS)

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CORTE MADERA (CBS / AP) — An alleged armed man holed up for several hours inside a Corte Madera bank surrendered Monday night.

Authorities say the man exited the Bank of America branch with his hands up shortly after 10 p.m. Monday after hours of tense negotiations.

He was quickly placed in custody. The weapon in question turned out to be a pellet gun.

Authorities say the man, whose name has not been released, entered the branch located at 663 Tamalpais Drive late Monday afternoon, proceeded to post signs on the doors about his financial problems and go on a rant about inequities in America.

He let employees and customers leave as negotiators were talking to him. A SWAT team also surrounded the bank.

Police say the man was mentally ill and had not taken his medication.

A customer told the Marin Independent Journal newspaper that the man said he did not want to hurt the people inside and offered them bottled water.

(Copyright 2011 by CBS San Francisco. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed. Wire services may have contributed to this report.)

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