The suspect, Nicholas James August, 38, faces charges of armed robbery, two counts of aggravated criminal sexual assault and aggravated unlawful restraint, according to a Rockford Police Department statement.
August allegedly sexually assaulted the 39-year-old woman during the hours-long standoff, police said in a statement.
Police said August, armed with a pellet gun that resembled a real firearm, entered a branch of Heritage Credit Union in Rockford and threatened employees just after 2:30 p.m. (3:30 p.m. ET) on Friday.
He allegedly took one hostage before ordering everyone else out of the building, the statement said.
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Hostage negotiators convinced August to surrender shortly before 9 p.m., police said. The hostage, a bank employee, was taken to a hospital for treatment of injuries that were not life-threatening, police said.
Rockford Police Chief Dan O’Shea told reporters Friday that police believed August did not know the bank employee before the incident.
August has outstanding arrest warrants for aggravated domestic battery and a probation violation in neighboring Boone County, police said.
He is being held in the Winnebago County Jail on a $2 million bond.
It’s unclear if August, who has a court date Monday, has an attorney.
Rockford is about 80 miles northwest of Chicago.