Use Regex.IsMatch To Validater Time Format (HH:mm)?

I would like to make sure a time with correct format (HH:mm)

this is my code

bool timeCheck = true;
string[] time = ArrivalTIME.Text.Split(':');
if (time.Length > 2)
{
if (time[0].ToString()< 0 || time[0].ToString() > 23)
timeCheck = false;
if (time[1].ToString() < 0 || time[1].ToString() > 59)
timeCheck = false;
}
else
timeCheck = false;

but this code will cause some problem ArrivalTime.Text = "aa:bb" caused syntax error..

just wondering would this check done by Regex ?