Colorado police arrested a man with a beard, accusing him of stealing a bank and throwing stolen money to passersby in the air, shouting: "Happy birthday."

According to the police report, David Wayne Oliver, 65, was arrested in a nearby Starbucks coffee shop after he targeted an academic bank in Colorado Springs, on Monday afternoon, according to the Reuters news agency.

The police added that the suspect "threatened to use a weapon" and left the bank in possession of an undisclosed amount of cash.

Colorado media reported that the eyewitness, Dion Pascal, said that Oliver had left the bank and threw the money "around the place".

It quoted Pascal as saying: "He started throwing money out of the bag (before he yelled at him) Happy Birthday."

Pascal told the station that passers-by collected some money and returned it to the bank, while Oliver went to a Starbucks coffee shop and sat and apparently was awaiting his arrest by the police.

The "Denver Post" newspaper quoted police as saying that "thousands of dollars" are still missing, adding that there is no sign of Oliver using a weapon during the robbery.

Records of the El Paso prison prison, where Oliver is held, indicated that he would appear in court today. It is not clear in the records whether Oliver has hired a lawyer.