Editor’s note: This story is developing and will be updated.
Evolve Bank & Trust CEO Bob Hartheimer was taken into Federal Bureau of Investigation custody at his office Thursday regarding a personal matter, a source close to the bank told Banking Dive.
The CEO’s arrest has “nothing to do with the bank. No warrants were executed against bank or bank property,” the source said.
The source did not disclose the charges, but said that Hartheimer was scheduled to appear in federal court in the Western District of Tennessee in Memphis on Thursday. Court documents were not yet available.
Hartheimer’s arrest was confirmed by an FBI spokesperson, according to Fintech Business Weekly reporter Jason Mikula, who first reported it on social media site X.
Hartheimer took the reins of the West Memphis, Arkansas-based bank in August following former CEO Scott Stafford’s retirement earlier this year.
At the time, Hartheimer said that he aimed to “restore trust” in the bank, which since last spring has been caught up in a missing-funds saga tied to the collapse of middleware fintech Synapse.
Now, he’s on administrative leave, according to the source.
Spokespeople for Evolve and for the U.S. Attorneys Office for the Western District of Tennessee could not immediately be reached for comment.
