The robbery was reported by a 911 call to the Carrboro Police Department at 11:53 a.m. Monday morning.
Police reports state that the suspect entered the building and inquired about opening an account. The suspect then produced a semiautomatic handgun and threatened the teller, giving the teller a bag to fill with money.
As the suspect left the building, a dye pack placed in the bag burst, staining the cash and the pavement outside.
The suspect escaped in a dark-colored sports car, heading out of the plaza onto Old Fayetteville Road and then onto the N.C. 54 Bypass, driving west.
The getaway car is leading officials to believe the suspect had an accomplice in the robbery.
Officials said they hope the red stains from dye left in the car will help lead them to the suspect.
Bank employees described the suspect as a black male, 5 feet 10 inches to 5 feet 11 inches tall, with a thin build and black hair in braids.
He was wearing a dark ball cap, blue windbreaker and dark blue jeans.
The amount of money taken has not been disclosed.