The robbery was carried out on Thursday afternoon in Ile-Oluji/Okeigbo Local Government Area of the state.
During the attack, at least four people were feared killed by the armed men.
Authorities at the Ondo State Police Command have confirmed.
But the Police Public Relations Officer in the state, Femi Joseph, could not give details of the attack.
He noted that the command had already deployed policemen to the scene while an investigation into the incident was ongoing.
The identities of those killed by the robbers have yet to be ascertained.
An eyewitness told Channels Television that the robbers gained entry into the bank using dynamites.
It was also gathered that some local hunters were also the trial of the robbers.
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