An elderly Payson man was threatened and forced to withdraw funds from Chase Bank late Tuesday afternoon.
Payson Police Chief Don Engler said the suspect is in custody and the victim is unharmed.
Police taped off the victim's car in the bank parking lot and searched it. Engler said the search was made because it is believed the suspect was in the vehicle at some point.
The incident is still being investigated and further details will be published as they are made available.