Police, meanwhile, said a man who opened fire in an attempt to stop the fleeing gunman has been released without charges for now.
The suspected robber and shooter, Milton Xavier Parker, 22, was arrested a short time after the 1:35 p.m. incident outside an Arvest Bank in the 16000 block of Chenal Parkway.
Prosecutors said during a brief initial hearing in Little Rock District Court on Tuesday that Parker robbed and shot Mohamed Eid as Eid was depositing cash at the branch. In addition to the high bail, Parker was ordered to have no contact with Eid if he is released.
After shooting Eid, the robber then fled to a nearby gas station, where a bystander opened fire in an attempt to stop him. Authorities on Tuesday identified that bystander as 50-year-old Charles Stearns and said he was released without charges, though the case will be forwarded to the prosecutor's office for review.
Reached by phone Tuesday morning, Stearns said he had no comment.
Parker was arrested at an apartment at 15000 Chenal Parkway after authorities found a vehicle matching the one the robber left in at that address. Police say three people in the apartment registered to the vehicle were questioned with Parker ultimately being arrested and the other two released.
Prosecutors said during Parker's initial appearance that he has recently been released from prison on a separate aggravated-robbery case.