A judge kept bail for 59-year-old Bryan Ingalls at $40,000.
Ingalls was arrested Thursday in connection with a robbery Tuesday afternoon at the Patten branch of the East Mill Federal Credit Union.
According to a spokesperson at the Penobscot County Jail, Ingalls has been unable to post bail and remains in the jail.
Although the amount of money taken in the robbery has not been released, police say a portion of the money was recovered during the course of the investigation.
Because he is facing felony charges and has yet to be indicted, Ingalls did not enter any plea in court Friday.
The Penobscot County District Attorney's office is expected to present evidence in Ingalls' case to the next session of the grand jury.