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Bank Robbery Suspect Is Former Bank Employee

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CEDAR RAPIDS, Iowa — One of the brothers accused of committing a series of bank robberies in Cedar Rapids is a former bank employee.

Bill Brady, spokesman for U.S. Bancorp, confirmed that Timothy L. Broderick, 22, of Cedar Rapids, worked for a US Bank branch in Des Moines for about a month last year. Broderick and his brother, 25-year-old Damion Broderick, robbed a US Bank branch in Cedar Rapids in April, according to Cedar Rapids police and the FBI who arrested the men Monday on several robbery charges. Damion Broderick is accused or robbing the same branch of Guaranty Bank on Jacoyln Drive twice; Timothy Broderick is accused of assisting in one of those robberies.

The brothers, both of Cedar Rapids, appeared on television from the Linn County Jail before a judge to make their initial appearances on multiple counts of second-degree robbery, a Class C felony. Damion Broderick faces six counts of second-degree robbery and had his bond set at $700,000. Timothy Broderick is accused of aiding and abetting his brother during two of the robberies and had his bond set at $500,000. Neither man had much to say at his initial appearance, though Damion Broderick had one request.

“Is there a possibility I could be placed on house arrest,” Broderick asked.

Broderick was advised to take up his request with his attorney. Both men will be represented by public defenders.

All told, the elder Broderick is accused of committing three robberies — one at the Edgewood Road branch of US Bank on April 28 and two at the Guaranty Bank on Jacolyn Drive, on June 25 and July 7. His younger brother is accused of assisting his brother during the April 28 and July 7 robberies “by purchasing items used in the robberies and/or driving the escape vehicle,” according to a criminal complaint.

In the instances of the June 25 and July 7 robberies, the men face multiple counts because there were multiple bank employees threatened, according to police and criminal complaints. The same Guaranty Bank employee was victimized in both the June 25 and July 7 robberies, according to the criminal complaints.

Police announced the arrest of the brothers Monday at the conclusion of executing search warrants at three Cedar Rapids residences and three vehicles. A replica handgun was recovered, as was some cash, but police do not know whether that money was tied to the robberies.

“Investigators are continuing to work on this aspect,” said Greg Buelow, public safety spokesman for the city.

Assistance in the investigation came from a variety of sources. Investigators said some of items used in the robbery were purchased at the Walmart in southwest Cedar Rapids. Loss prevention staff helped investigators obtain evidence of those purchases, Buelow said. Police have not said what the men purchased for the robbery, but Buelow confirmed Tuesday that one of the brothers was wearing make up to change his appearance.

Buelow also credited the assistance received from the Linn County Crime Stoppers tipline.

“They got several tips, as well,” he said. “The public was very, very responsive.”

The July 7 bank robbery was the eighth in the city this year and three remain unsolved. Buelow said investigators are looking into whether the bank robberies are related. The Broderick brothers will likely face additional charges based on what investigators found during the execution of the search warrants, Buelow said.

“There will be some charges not related to the bank robberies that will likely be filed,” he said.

Second-degree robbery is a Class C felony punishable by up to 10 years in prison.

KCRG-TV9 reporter Dave Franzman contributed to this report.

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