By John Waller, Les Masterson and Matt Schooley
Update Saturday at 5:50 p.m.: ROUNDUP: What we know about Friday's bank robbery, police shooting in East Arlington >>
Update Friday at 6:50 p.m.: The suspect who was shot by an Arlington police officer is James P. Riley, 36, of Quincy, according to a 6:45 p.m. release from the department.
The second suspect is Shawn T. Bambushew, 25, of Everett.
Both have been charged with bank robbery and assault by means of a dangerous weapon, to wit brandishing a firearm at police, according to police. The incident remains under investigation, and additional charges may follow, police said.
Anyone with information regarding the incident is urged to call Arlington Police at 781-643-1212.
Police are not releasing the names of the involved officers at this time.
Update Friday at 5:50 p.m.: Leader Bank President and CEO Sushil Tuli has released the following statement: "We appreciate those who have reached out to Leader Bank to express their support for the bank and their good wishes for our employees. Our primary concern throughout this entire incident was the safety of our employees and customers, and we were relieved that all of those involved at the branch are safe. We commend our employees for their professionalism in responding to this matter."
Tuli also thanked Police Chief Fred Ryan and his department, as well as other responding departments, for their rapid response and work.
Update Friday at 4:54 p.m.: Police Chief Fred Ryan said two Arlington police officers stopped the vehicle and were involved in the incident. One officer is at Winchester Hospital being treated for stress.
Ryan said investigators still don't know the "particulars" of the shootout and whether the suspects shot a weapon. One of the suspects "brandished a firearm," he said.
The Middlesex District Attorney's Office is at the scene. Ryan expects to release the identities of the two suspects on Friday night.
Update Friday at 4:11 p.m.: Police Chief Fred Ryan said the officers responded to the Leader Bank at 2:40 p.m. after reports of an armed robbery.
Police spoke to witnesses at the scene who gave officers a description of the getaway vehicle and the two white males in the car.
A short time later, officers spotted the vehicle and a pursuit ensued. It ended near the intersection of Brooks Avenue and Melrose Street when the vehicle stopped.
The officers approached the vehicle and reportedly spotted a firearm. Gunshots then rang out. It's unclear whether the suspects fired as well as police.
One of the suspects was shot and is in serious condition at Massachusetts General Hospital. The other suspect is currently at the Community Safety Building. Both men are in police custody and investigators do not believe there are any other suspects at large.
An officer was also taken to an area hospital, but Ryan said he was not shot.
Ryan described the investigation as "very fluid" and in the "fact-gathering stage." The FBI is at the bank and investigating whether the robbery is part of a string of other bank robberies.
Ryan said the incident is "very troubling to the community" because it took place in a residential neighborhood.
"These were two armed felons. These officers bravely hunted them down," he said.
Ryan said he should have another update for the media before 5 p.m. and that police continue to interview witnesses.
Update Friday at 4:02 p.m.: East Arlington resident Lisa Goldfarb said she was with her 10-year-old son at the Hardy Elementary School playground on Lake Street when she heard the gunshots.
"I thought it was firecrackers. I didn't think it was gunshots. One of the mothers had the wherewithal to say 'I think that was gunshots' and hurried the kids inside," she said.
Updated at 3:55 p.m.: There are a number of marked and unmarked cruisers at the scene. About a dozen at the scene of the shooting and a handful at the bank.
Updated Friday at 3:51 p.m.: WCVB has a photo of the suspect being taken away by stretcher. You can see the photo here.
Updated Friday at 3:40 p.m.: Brooks Avenue is currently closed between Egerton Road and Milton Street as police remain on scene following following Friday's incident.
One neighbor told Patch that she was inside of her home when she heard four gunshots ring out.
Arlington Police Chief Frederick Ryan said he will give a statement to the media around 4 p.m.
Original story posted Friday at 3:08 p.m.: There are reports that a bank robbery suspect was shot by police on Brooks Avenue in East Arlington at about 3 p.m. Friday.
The suspect allegedly robbed Leader Bank at 141 Mass. Ave., according to reports.
We’ll post more information as soon as it becomes available.