Police nab Onalaska bank robbery suspect

ONALASKA, Wis. — A man accused of robbing a bank inside Woodman's Market on Hwy. 16 only got about 15 minutes up the road to West Salem, Wis., before he was arrested Tuesday afternoon.

The robbery happened about 1:30 p.m. at Associated Bank on the east end of the Woodman's building, when a man gave a teller a note demanding money, Onalaska Police Chief Randy Williams said.

The man, who never threatened a weapon, fled the building and parking lot after being given an undisclosed amount of cash, Williams said.

But the teller was able to give police a detailed description of both the person and vehicle. "The teller did a great job," Williams said.

Fifteen minutes later, a La Crosse sheriff's deputy arrested Darrell McCormick, 30, of Rochester, Minn., outside Features Sports Bar and Grill in West Salem, also on Hwy. 16 about five miles from the bank.

McCormick was booked in the La Crosse County Jail on robbery charges. Onalaska police said he is cooperating in the investigation.

The bank was closed Tuesday afternoon while Onalaska investigators and the FBI worked inside. A drive-through location in the parking lot remained open, as did Woodman's.

What are people saying about mortgages today:

Rates on 30-year mortgages edged down last week to a seven-month low. Mortgage-giant Freddie Mac reported Thursday that 30-year, fixed-rate mortgages fell to 6.3 percent, down slightly from 6.31 percent two weeks ago. It put rates at the lowest level since they were at 6.24 percent the first week of March.

Bank of Hawaii, Central Pacific Bank, Territorial Savings Bank and Wells Fargo Home Mortgages all cut their 30-year mortgage rates to 5.75 percent this week.

Most people think of a mortgage as a means to an end. After all, you buy a house, not a home loan. But a mortgage is much more than the path to homeownership. It is a financial instrument that must be managed, just like any other financial investment.