At about 9:30 a.m., a man robbed the First Midwest Bank at 1415 W. Jefferson St. in Joliet.
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As part of the investigation, police went to a home in the 200 block of South Des Plaines Street, which is about a mile from the bank.
One of the officers encountered a man, who police said was armed, and the officer shot him. In a statement, Joliet police said that "the officer was forced to defend himself."
The man was taken to St. Joseph's Medical Center, where he later died. The Will County Coroner's Office identified him as 38-year-old Bruce Carter, Jr., of Joliet.
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The officer was taken to Silver Cross Hospital for treatment and observation, police said.
Will / Grundy Major Crimes Task Force is investigating the police shooting.
The FBI is investigating the bank robbery.
Authorities have not said whether Carter was the suspected bank robber.