I remember bailing my son out once, against all good suggestions, but it was his first arrest and he had a promise list a mile long. His promise list lasted 2 hours after he got out and I never did it again.
Only you can decide what's right for you, but please don't do it merely out of guilt or because you feel in any way responsible for him being there, his actions got him there plain and simple.
I agree with those above who pointed out that he needs to learn there are consequences to bad choices and I know that I robbed my son of that lesson for many years.
Whatever you choose, we're walking with you. Just remember that it is okay to say "no".
Hugs