(CNN) A man arrested after holding a woman hostage for hours at an Illinois credit union has been identified, police said Saturday.

The suspect, Nicholas James August, 38, faces charges of armed robbery, two counts of aggravated criminal sexual assault and aggravated unlawful restraint, according to a Rockford Police Department statement.

Nicholas James August was arrested Friday after a standoff with police.

August allegedly sexually assaulted the 39-year-old woman during the hours-long standoff , police said in a statement.

Police said August, armed with a pellet gun that resembled a real firearm, entered a branch of Heritage Credit Union in Rockford and threatened employees just after 2:30 p.m. (3:30 p.m. ET) on Friday.

He allegedly took one hostage before ordering everyone else out of the building, the statement said.

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