A hostage situation in the northern French town of Roubaix, close to the Belgian border, has ended. All hostages have been released, and one of the three assailants was killed during a police raid, according to local officials.

Police are hunting for other suspects on the run.

Police were deployed after reports of gunshots began at 7 PM on Tuesday evening.

"An operation is underway after hostages were taken," a police source told Reuters. "Gunshots were fired and the neighborhood has been cordoned off."

— Javier Gonzalez (@JaviMayo3) November 24, 2015

​"A bank director and his family may have been taken as hostages," the source added. Children were also reportedly among the hostages.

RTL reports that the situation began after the suspects were stopped at a security checkpoint, while other outlets suggest it may have begun as a robbery. There were also conflicting reports about where exactly in Roubaix the incident is taking place. Some suggest the gunmen were holed up inside an apartment building, while others report the incident took place inside a gas station.

— Roeland Roovers (@r0eland) November 24, 2015

— Alexander Marquardt (@MarquardtA) November 24, 2015

French prosecutors have confirmed that the incident appears to have been a robbery gone wrong, according to MSNBC, and was unrelated to the Paris attacks of November 13.

The town is located approximately one hour west of Brussels.