An armed man took hostages at a bank in Lebanon after it wouldn't turn over his frozen funds. A crowd quickly gathered outside to cheer him on.

• A man took bank employees and customers at a Lebanon bank hostage after it would not release his money.
• The man returned to the bank with a gun and fired three warning shots, demanding his money.

An armed man has reportedly taken employees and customers hostage at a Lebanese bank after tellers wouldn't let him withdraw $200,000 in frozen funds — and a crowd has gathered outside the standoff to cheer him on.

After the Federal Bank of Lebanon in Beirut initially wouldn't give the man his money, he left and returned with a gun, according to Reuters.

"He demanded access to around $200,000 he had in his bank account. When the employee refused the request, he began screaming that his relatives were in the hospital. Then he pulled out the gun," a security source told Reuters.

The man fired three warning shots, the Associated Press reported. It's unclear if anyone has been hurt.

The man also threatened to set himself on fire if the bank does not give him his money, Aljazeera reported.

Hassan Mughnieh, the head of Lebanon's Depositors Association, told Reuters the man wanted the money to feed his kids and pay for his father's treatment in the hospital.

Mughnieh told Reuters he had been in contact with the hostage-taker and said that the man will not hand over his weapon until he gets his money.

The man's wife said their family is facing debt and is struggling to make ends meet, Dina Abou Zor, a lawyer with the advocacy group Depositors' Union who was among the protesters, told the AP.

As the hold-up ensued, a crowd of customers of the bank gathered outside to protest the bank and support the hostage taker.

"Down with the rule of the banks!" the crowd chanted, according to Reuters.

One man reportedly shouted: "We are depositors and we want our money! We are with him, we're even ready to help him!"

The country is amid a financial crisis, prompting the bank's move to prevent the man from withdrawing his bank balance. Banks have been limiting the amount customers can withdraw from their accounts over the last three years.

The man's brother, also among protestors, said his brother would be willing to turn himself in if the bank releases his money.

"My brother is not a scoundrel. He is a decent man. He takes what he has from his own pocket to give to others," the man's brother told the AP.

Authorities have been attempting to negotiate with the man, Aljazeera reported. Meanwhile, soldiers and police officers have surrounded the area. The Red Cross told Reuters they deployed an ambulance to the scene.

The move comes months after a coffee shop owner in January was able to successfully withdraw $50,000 from her account in January after taking bank employees hostage and threatening to kill them, according to the AP.

This story is developing. Please check back for updates.