Two friends and fellow convicts, the charismatic Joe (portrayed by Bruce Willis) and the neurotic hypochondriac Terry (played by Billy Bob Thornton), manage an audacious escape from the Oregon State Penitentiary in a concrete mixing truck. Their aim? To embark on a spree of bank robberies that will help fund a shared dream. Joe, ever the resourceful brawn, notices the main gate’s sluggishness and seizes an opportunity that leads them to commandeer the concrete mixer and make a daring exit, with Terry reluctantly joining him out of concern.
After their prison break, Joe isn't shy about taking risks, stealing a woman's car to facilitate their first bank heist. A simple magic marker serves as a makeshift weapon against the lone guard inside the bank, indicating Joe’s fearless disposition. As the duo navigates their criminal endeavors, Joe reveals his attraction to beautiful women. Following a successful heist, they make a hasty escape in yet another stolen vehicle.
In a twist of fate, they find refuge in the garage of Cheri Woods (Azura Skye), a young woman whose father is away for the weekend. While hiding out, Joe shares his dream of purchasing and transforming his uncle's hotel in Acapulco into a thriving resort. Inspired, Terry converts this ambition into their new robbery strategy – a plan that quickly evolves into their signature style. Becoming known as the "Sleepover Bandits," they expertly kidnap bank managers the evening before their planned heists and spend the night with their families to ensure an easy morning heist.
Working with the dim-witted but eager would-be special effects artist Harvey Pollard (Troy Garity), who serves as their getaway driver, they successfully execute a string of robberies, establishing a reputation that lands them on the FBI’s Ten Most Wanted list, with a staggering reward of $1 million for their capture.
In a pivotal turn, a housewife named Kate (Cate Blanchett), caught up in her own failing marriage, unwittingly crosses paths with Terry while he’s stranded on a bridge. Her unyielding desire for companionship leads her to drive him to their hideout, much to Joe’s chagrin. However, Joe soon becomes captivated by Kate, who ends up participating in their bank heists, forming a complex bond as she gets closer to both men.
The characters’ dynamics grow increasingly complicated, especially after a tragic car accident during their getaway leads to a series of miscommunications. Tension mounts as Terry finds himself in a love triangle with Kate, who refuses to choose between them, complicating their criminal escapades even further. Meanwhile, their exploits are documented across the media, painting them as kidnappers, which adjusts the public narrative surrounding their actions.
As they plan their last big heist, internal conflicts reach a boiling point, culminating in an explosive showdown at the Alamo Bank. In a shocking twist, it’s revealed that the events leading to their ultimate confrontation were manipulated by Harvey, who orchestrated an elaborate escape plan involving special effects and a fake shootout.
The film’s conclusion reveals that Harvey, along with Kate, Joe, and Terry, manage to evade capture, ultimately realizing their dreams of a fresh start in Mexico. The closing scene captures the essence of their rebellious journey, with Harvey marrying in Mexico and Kate sharing intimate moments with both Joe and Terry, illustrating their unconventional yet triumphant escape from the law.
