Salado Police Chief Jack Hensley says the man walked into the bank around 10:45 Monday morning and demanded money from a teller.
Hensley says no weapon was displayed, but the teller still handed over an undisclosed amount of cash to the robber.
The 'Loan Ranger' stuffed the stolen bills underneath his shirt and fled the bank on foot.
Authorities say he was wearing a dark blue long-sleeve pullover shirt and a white cap.
Tyler Police Officer Don Martin says the department has been contacted in reference to the possible connection to two bank robberies in Tyler.
The Altra Federal Credit Union on August 31, 2011, and BBVA Compass Bank in mid-May of this year are the two local banks authorities say may be connected to Monday's robbery.
The Loan Ranger is accused of robbing an Arkansas bank twice, once in 2009 and again in mid-2011; he's suspected in the January robbery of Union State Bank in Round Rock, also in the March 30 robbery of the Santa Fe Community Credit Union in Temple, and Monday's Salado robbery marks the seventh.
To view a slideshow of images captured from surveillance footage in all of the possibly connected robberies, click here.
We're working to obtain surveillance footage from Monday's robbery. Stay tuned for more information in this developing story.