Police officers were called to Hull city centre this afternoon to a report that a man was carrying a bladed weapon and a container with liquid in thought to be petrol.
The man had entered two banks on King Edward Street around 1pm and set fire to some of the liquid.
A number of officers quickly attended along with fire crews and a small blaze was put out.
The situation was contained very quickly by police and emergency crews and the man was arrested at Paragon Interchange. The suspect is now in custody and no one has been seriously injured, but the public are advised to avoid the area while investigations continue.
Chief Superintendent Phill Ward, North Bank Commander, said: “We are mindful of the public's concern that these types of incidents may be related to terrorism, however there is nothing to suggest that this is anything other than an isolated incident which has been dealt with promptly by the responding police and emergency services.
“I want to offer reassurance that our priority at all times is the safety of the public.”