BREAKING NEWS:

Police have arrested a man who allegedly walked out of a Huntington Beach bank earlier this afternoon with about $20,000 in cash.

Police took Patrick Murphy, 53, into custody at about 2 p.m. this afternoon. Murphy was described as a transient local to the Orange County area.

He entered the Comerica Bank at 17011 Beach Blvd. at 1:08 p.m. and verbally demanded for money from a bank teller, authorities said. He left the bank on foot.

Police located Murphy about a block away from the bank; he was taken into custody in front of the Howard Johnson hotel on Beach Boulevard.

Murphy, wearing a baseball cap with an American flag and eagle on it, was carrying a black duffel bag, a red Target reusable shopping bag and a red backpack when he was apprehended.

“When he was arrested, he was armed with a pocketknife in his jacket pocket,” Lt. Russell Reinhart said.

Reporter CANDICE BAKER may be reached at (714) 966-4631 or at candice.baker@latimes.com.