A police officer accused of tying up an elderly man in his home before stealing $100,000 in cash has been released on bail.

The 36-year-old senior constable, whose name has been suppressed by the court, is one of two men charged over an alleged aggravated break and enter at Lightning Ridge in north-west NSW earlier this month.

Police allege the officer and a 51-year-old man travelled nine hours to the small outback town, a distance of almost 780 kilometres.

The defendant allegedly forced entry into a home, tied up a 78-year-old man and threatened him before stealing $100,000 in cash.

Paramedics treated the elderly victim at the scene before he was taken to Lightning Ridge Hospital for leg and arm injuries.

He has since been discharged.

Both men were arrested at Shell Cove last week following a search of two homes.

They were charged with aggravated breaking and entering and committing a serious indictable offence.

During a bail hearing in Wollongong Local Court on Wednesday, the court heard the alleged offending was premeditated.

The court was told the officer became aware of the man's wealth after previously investigating him as a suspect in another matter.

The accused was serving as a police officer at the time of the alleged offence and has no criminal history.

The court heard he had never appeared before a court until on Wednesday, when he appeared via video link from a Nowra Correctional Centre.

'Not a weak prosecution case'

Magistrate Les Mabbutt said the defendant was accused of a "very serious offence" where "violence was used."

"If convicted, there's potential for a full-time custodial sentence of some length of time," the magistrate told the court.

Claire Robinson from the Office of the Director of Public Prosecution (ODPP) said the case against the senior constable was strong, with evidence including CCTV of the men travelling to Lightning Ridge and the officers' fingerprints lifted from a hire car.

The court also heard letter imprints found on cable ties used to bind the elderly victim were being examined against those found during a search of two properties last week.

"These are still being forensically examined," the magistrate said.

Mental health concerns

The senior constable spent the weekend in a solitary jail cell with round-the-clock supervision due to his risk of self-harm.

When applying for bail, defence lawyer Matt Ward said his client was on medication for PTSD and depression.

"These are pre-existing conditions," Mr Ward told the court.

Magistrate Mabbutt said he understood the accused might also be dealing with feelings of shame.

"Shame is part and parcel of anyone charged with criminal matters," he said.

Magistrate Mabbutt granted the accused bail with strict conditions prohibiting him from leaving his home unless in the company of a nominated person, not to approach or contact the victim or any prosecution witnesses and to forfeit his passport.

In supporting the non-publication (NPO) of the accused's name, Mr Ward said his client was vulnerable as a police officer and someone suffering from mental health issues.

Magistrate Mabbutt agreed to the NPO but did not agree that references to his employment at NSW Police should be removed.

The matter will be heard again in Walgett in December.