Alfred Apaiz, 23, of Gilroy and Luis Barrios, 35, of San Jose, were arrested on suspicion of robbery and conspiracy in connection with a robbery reported at 11:36 a.m. at the Bank of America at 5615 Snell Ave., police said.
While fleeing from police, the pair crashed in a blue Honda on state Highway 85 and were later taken into custody with the assistance of a good Samaritan who had witnessed the collision.
Highway 85 was closed for several hours because of concerns that the Honda contained explosives. The car was later declared harmless.
Gunderson High School was also briefly locked down after one of the suspects went onto school property while trying to flee from police.
Both Apaiz and Barrios remained in custody Friday afternoon at the Santa Clara County Main Jail, police said.