A Federal Reserve order on Monday banned a former Arvest Bank of Fayetteville employee from the banking industry after he misappropriated more than $42,000 in customer funds.

Arvest hired Christopher Timos in November 2020 to work at a Springdale branch. He began misappropriating funds for his personal benefit in December 2023, the enforcement action said. Arvest fired him in March.

The order didn’t provide details on how Timos misappropriated the money or how he used the funds.

Timos of Rogers consented to the Fed’s order, agreeing not to challenge the ban.

In a statement, Arvest said it could not discuss specifics of the case due to ongoing legal and privacy considerations. “However, we can confirm that after investigating the matter, Arvest promptly reimbursed all affected customers. We continuously review and strengthen our security protocols to protect our customers’ accounts.”

A search of local and federal court records found no criminal charges against Timos.

Timos owes the state $1,245.58 in unpaid income taxes, according to an Arkansas Department of Finance & Administration filing in Benton County Circuit Court.