David Hale and Chad McClain saved a pawn shop owner from the attack Monday, the Cincinnati Enquirer reported.
"Too often we are incorrectly taught to be afraid of people experiencing homelessness. Hopefully the heroic actions of these two people will help to undo our negative stereotypes," Josh Spring, the Greater Cincinnati Homeless Coalition's executive director said.
As Hale walked to the public library downtown around noon Monday, he saw a man approach the victim at an ATM, the Enquirer reported.
"He [the assailant] put his arm around his neck and took him to the ground," Hale said. "He started punching him. That's when I ran over and got in between them, trying to separate them. I hope someone would do the same for me."
McClain, 38, ran over when he heard the victim scream for help, the Enquirer reported.
Hale and McClain -- who were strangers before the incident -- were able to free the victim.
Hale stayed by the victim while McClain ran after the suspect and stood in front of the suspect's car, preventing his escape, the newspaper said.
Police arrested the suspect, Louis Stevenson, 45, of Walnut Hills, whose bail was set Wednesday at $250,000. Stevenson allegedly was trying to steal the victim's cash and laptop.
Recently, social service agencies and churches helped Hale to get an efficiency apartment. Hale said he can paint metal and continues to look for work as a laborer.
McClain, a concrete pourer, lives at the Drop Inn Center and he has a hard time finding work because of the slow housing construction market, the report said.