Accused Bank Robber Indicted 

21 year old Michael Phillips, formerly of New York City, Waterville and Winslow has been indicted by the Somerset County Grand Jury.Phillips is charged with armed robbery of the Franklin-Somerset Federal Credit Union on Main Street in Madison. The incident happened in July of last year.He was extradited from New York to Maine.Phillips is being held at the county jail in Madison on 250-thousand dollars bail. An indictment does not conclude guilt, but rather a decision by the grand jury that there is enough evidence against a defendant to proceed with a trial in Superior Court.