Gary Dale Presley, 26, was charged with robbery, use of a deadly weapon and possession of a controlled substance. He was arrested Friday and appeared before Lee County Justice Court Judge John H. Sheffield on Monday.
Presley could face a life sentence if convicted.
Presley is alleged to have been in possession of Xanax, Shannon Police Officer Fred Washington said, and with using a large butcher knife.
Presley was arrested after officers found a crashed vehicle that matched the description of the one used in the robbery.