The fictional town of Vadalia in the film is actually named Hope located in British Columbia, Canada where the first "Rambo" film "First Blood" was filmed in 1982, and this film was filmed and released twenty years later.
The trivia items below may give away important plot points.
The bank robbery sequence is played out in three different flashbacks/scenarios. The first being, John Parker as the first suspect in the robbery the morning after his night with Natalie. The second being, the deputy and Ray the Sheriff pursuing "a suspect" presumably Parker to make it look as if they were not in on the robbery. The final one being what really happened, in which Parker is at the ATM trying to get some money when the power goes out and the Sheriff's deputy in the clown mask shows up to rob it with Parker taking off in hot pursuit only to find out that the Ray was the one who behind the robbery resulting in Parker getting shot but taking off with the money and ending up in the church with the bag of money.
Parker and Natalie discover that it was her ex-husband, Ray who was the mastermind of the bank robbery. Parker figures it out when he goes to Ray's house and finds metal shards on the workbench meaning Ray took an officer issued shotgun and sawed the tip off to make it look like any other gun used in a stickup, they also search his computer to find details on the power grid of the area prompting him to create an explosive to blow out the power transformer near the bank at the exact same moment that his partner disguised in the clown mask was to rob the bank and he was also trying to find out some airline information for his possible getaway.
The reason John Parker shows up in Vadalia was to hide out at the cabin where he and his partner would go fishing on vacation. He was on the run from his fellow corrupt detectives who had been stealing from drug dealers for years and Parker finally had enough when his partner was killed during one of the drug raids. This subplot would play out when they heard that the FBI was looking for Parker in association with the bank robbery that took place. He also refused to cooperate with the Los Angeles DA about the situation which immediately put him on their list to terminate him.
Later in the film, it is revealed that Parker didn't commit the robbery for several reasons. First, Kendall the FBI agent proved that there was no way that Parker would go from the ATM machine, put on the Clown costume and head into the bank once the explosion of the power transformer took place. The second was there was a couple of security cameras around the area including the ATM machine where Parker was the exact moment the transformer blew and the Deputy dressed in the clown mask showed up and robbed the bank. Lastly, Parker's ATM card was stuck inside the machine which was recording his every moment before the power went out.
Once it was revealed that it was Ray and his partner that robbed the bank and not Parker, Parker's former LAPD partners immediately put out a hit on him at the cabin so that he would not able to testify against them in light of the corruption they were all involved in.
Natalie thinks that Parker was the one who robbed the bank when she was treating his gunshot wound in the hospital a second time. However, Parker tells her to get his wallet which features an LAPD gold shield detectives badge and he tells her the real reason why he came to Vadalia was to get away from his former partners who want him dead in fears that he would talk to a Grand Jury in LA against them.
We only see the stolen money twice during the film. First, when we see Parker in the Church bleeding from the gunshot wound sitting on a bench resting and when the Priest arrives at Kendall's office while Parker is there to deliver the money to him which surprises Kendall vindicating Parker.