Santa Monica police have arrested a 45-year-old man who allegedly robbed a bank on Santa Monica Boulevard of over $3,000 Saturday, October 20th.

Mark Collett, described by police as homeless, was arrested after he allegedly walked into the Citibank branch at 501 Santa Monica Blvd. in Santa Monica at about 1:19 p.m. and handed employees a note which demanded money and threatened that he had a gun, Santa Monica police Lt. Alex Padilla said.

A bank employee was notified of the robbery by a teller and called police. No injuries were reported in the incident.

After the suspect received the money, he walked out of the bank, Padilla said. Police officers responding to the scene saw the suspect in the area of Sixth Street and Santa Monica Boulevard and detained him.

Police recovered approximately $3,800 that was taken in the robbery, Padilla said.

Collett was booked for armed robbery and his bail was set at $50,000.

Anyone with additional information regarding this incident is asked to contact the Santa Monica Police Department at (310) 458-8427, or robbery/homicide detectives at (310) 458-8451. Callers wishing to remain anonymous may call the We-Tip national hotline at (800) 782-7463 (800-78-CRIME).