According to court documents, Bob Hartheimer, the CEO of Evolve Bank & Trust, was taken into custody on Thursday on charges of sexually abusing a minor.
Hartheimer is charged with two felonies: obscene material distribution and sexual exploitation of minor-material photographs.
According to the FBI, the arrest happened while federal officials carried out a search warrant at the Evolve Bank headquarters office on Poplar Avenue in East Memphis.
In August, Hartheimer was appointed CEO of Evolve Bank and Trust.
Evolve Bank has been under federal oversight for more than a year due to weaknesses identified in some of its programs by regulators.
