Joe Blake (BRUCE WILLIS) and Terry Collins (BILLY BOB THORNTON) are partners in crime who've just broken out of Oregon State Prison. Quickly returning to their bank robbing ways, the two enlist the aid of Harvey Pollard (TROY GARITY), Joe's cousin and stuntman wannabe, as their driver and lookout man.
Joe wishes to make enough money so that he can retire south of the border and open a casino. That sounds good to Terry, the cautious hypochondriac, but he suggests a lower profile way of knocking off the banks, namely kidnapping and spending the evening with the bank manager and his or her family the night before the robbery and then calmly going in the next morning before anyone's there and taking the money.
The ploy works, but things become more complicated when Kate Wheeler (CATE BLANCHETT), a disillusioned and some eccentric homemaker, suddenly pops into their lives. Although Terry isn't happy with her joining their team - despite being the one responsible for her meeting them - Joe's immediately smitten and the two become an item.
As the quartet of robbers leave a trail of knocked off banks from Oregon to California, they gain fame as the "Sleepover Bandits," especially after being featured on the TV show "Criminals at Large" hosted by
Darren Head (BOBBY SLAYTON).
When Terry eventually becomes involved with Kate during one of their many two-week layovers between jobs, however, and their identities become known to everyone, the camaraderie of the team is threatened, ultimately leading to one last heist they hope will provide the big payoff they need.