FLORISSANT, Mo. (KSDK) – A state representative facing a number of felony and misdemeanor charges for allegedly mishandling campaign finances has announced his immediate resignation, according to a news release.

Initial reports said Rep. Steve Webb (D-Florissant) was expected to resign in early November.

"I strongly believe that the allegations against me will work themselves out," Webb said in a statement. "It's only right and fair that my family, the people and my colleagues not be negatively impacted by the distractions these legal challenges present."

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Webb has been charged with felony stealing and seven misdemeanor charges for campaign finance violations between 2010 and 2012. In Sept. 2011, Webb received a donation of more than $500 for a Missouri Black Caucus reception in Washington D.C., according to court documents. That money was later transferred into Webb's personal bank account.

VIDEO: Sources: Missouri Rep. Steve Webb to resign

"Misappropriation of political donations for personal use cannot be tolerated, and, if guilty of the charges against him, Representative Webb will have to answer for his alleged actions. Representative Webb has told me he intends to resign his House seat later today. Given the seriousness of the charges, we believe that is the appropriate decision for himself, his family and, mostly importantly, his constituents," House Minority Leader Jake Hummel (D-St. Louis) said in a statement that was initially released on Nov. 7.

No additional information was immediately available. Check back to for updates