Adam K. Putnam, 49, of Elizabeth Street, Saugerties, was arrested Sunday evening and charged with the Oct. 17 robbery of $1,050 from Ulster Savings Bank’s Main Street branch in Saugerties.
Police said Putnam was picked up at 5:45 p.m. on Sunday, Oct. 27 after being reported missing since Friday. During the interview, police say Putnam confessed to the robbery.
Police conducted several searches both in Ellenville and in the village of Saugerties, recovering what they say was the weapon used and clothing worn by Putnam during the robbery.
Police recovered $600 of the amount taken. The remaining money was spent by the suspect.
He was charged with two felonies: robbery in the second degree and grand larceny in the fourth degree.
Putnam was arraigned in the Village of Saugerties Court before Judge Robert Rightmyer and remanded to the Ulster County Jail in lieu of $50,000 cash bail. Putnam is scheduled to reappear in the Village of Saugerties Court on Monday Oct. 28 at 6 p.m.
Saugerties Police Detectives were assisted by the New York State Police BCI.
On Thursday October 17, 2013 at 2:10 p.m., police say Putnam entered the Ulster Savings Bank located at 318 Main Street in the Village of Saugerties. Putnam passed a note to the bank teller demanding money and then displayed a handgun. Putnam then left the bank with the proceeds, and was last seen walking west on Main Street.
Police Chief Joe Sinagra said Putnam said he was planning another bank robbery at the time of his arrest because the amount taken from Ulster Savings “wasn’t enough.”