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A man making a night deposit at a Bailey Avenue bank was robbed and then shot to death Friday night by gunmen who had been hiding in nearby bushes, police said.

"For all intents and purposes, it's an execution," said Lt. William Conwall of the Homicide Bureau. "There was no need to shoot him."

The victim, identified as John Schaus, 27, of Buffalo was pronounced dead at Erie County Medical Center. He suffered several gunshot wounds in his upper body.

Callers who reported the 7:40 p.m. shooting to police said the gunmen had been hiding in bushes near the Marine Midland Bank branch at 3107 Bailey Ave. near Westminster Avenue.

"He dropped the bag for (them)," Conwall said. After they got the money, "they chased him down and shot him."

The two robbers, described as black men, about 5 foot, 8 inches tall and wearing dark clothing, took the red money bag and fled north on Bailey Avenue, police said.

The bag contained several thousand dollars worth of checks and cash that Schaus was depositing for a Bailey Avenue rental firm, according to police.

Police believe a large-caliber handgun was used in the slaying.

Police found the victim's car, with the headlights still on, parked in front of the bank and his body about 50 feet north of the bank, beneath a small tree in front of a store. One of his shoes was found near the tree, while a pair of eyeglasses, thought to be the victim's, were recovered from the street gutter.

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