Toronto police have arrested a suspect in the case of the "Fake Beard Bandit," who they believe robbed 14 area banks in the past nine months.

Police say a beard-sporting man robbed nine banks in Toronto and five in Durham Region by allegedly showing the teller a note indicating he was armed, and demanding cash.

Police arrested a suspect on Friday after a man disguised in a fake beard went into a Kingston Road bank carrying pepper spray.

Police say the man lost his nerve and left the bank before being apprehended by officers who were waiting outside.

Toronto resident Brett Ryan, 27, faces 29 robbery, weapons and disguise-related charges.

He is expected to appear in court on Saturday.