SACRAMENTO, Calif. -- Sacramento police surrounded a Wells Fargo Bank branch in the city's north Natomas area Tuesday after a robbery was reported.

The bank is at Del Paso Road and Natomas Boulevard.

Police said a man walked into the bank, claimed he had a bomb and demanded money. Bank employees gave the man, later identified as 65-year-old Reed Price (pictured, left), an undisclosed amount of money. What he didn't know is that the teller and others called police and stalled long enough for them to arrive.

But by the time price exited the building, police were waiting, and Price was taken into custody.

Bank employees and customers hid in a vault while officers tried to figure out if there was more than one robber.

"What added to the confusion is, at least preliminarily, it appears there was another individual inside the bank who is mentally disturbed, and the commotion inside of that bank disturbed him even further," said Sacramento Police Department spokesman Justin Risley. "He was armed with a knife, and he felt -- because he had that knife -- he would perhaps get into trouble. So, we weren't sure if those individuals were working together."

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It was later determined that Price was acting alone.

"I have nothing to say, except to my lover, which is, I'm really sorry that he put me in this position," Price said.

Police said Price might be responsible for a series of bank robberies.

Bomb squad officers were called out to investigate the briefcase the man was carrying to determine if there was, in fact, a bomb. It was later found out the briefcase contained some flares and wiring.

A section of Del Paso Road near the bank remained closed to traffic early Tuesday afternoon.