New South Wales Police have arrested a man following the alleged armed robbery of a bank in Coolangatta yesterday, December 10.

The 48-year-old Maroochydore man was located by NSW Police Force officers around 7.30pm on the Pacific Highway at Ballina and taken into custody.

It will be alleged the man entered the Griffith Street business at Coolangatta yesterday armed with a knife and demanded cash from staff around 12pm.

Queensland Police detectives will attend Lismore Magistrates Court today where they will apply to have the man extradited to Queensland.