The Polk County Sheriff's Office said Russell Lester Sanford Jr., 28, allegedly robbed the Mid-Florida Credit Union in Davenport at 9 a.m. last Monday, armed with a semiautomatic handgun.
Sanford fled with an undisclosed amount of money and a deputy pulled Sanford over near the scene when he recognized his vehicle from the description given to dispatchers by bank employees.
Sanford was arrested on charges related to the incident and interviewed by detectives, who said the suspect told them he had been planning the robbery for two days.
The suspect allegedly told police he wanted the money from the bank because he was tired of seeing people younger than him driving newer vehicles than his car. He said he had also planned to use the money to pay off his mounting traffic citations.