A former bank executive who was convicted of possessing child pornography more than four years ago was arrested yesterday for allegedly violating terms of his supervised release.

David G. Zerfoss was arrested by U.S. marshals after a warrant was issued for his arrest. He is accused of possessing child pornography, which is a violation of the supervised release conditions imposed when he was sentenced in January 2005.

Zerfoss was being held at the Federal Detention Center yesterday and is scheduled to appear before U.S. Magistrate Judge Leslie Kobayashi at 3 p.m. today.

Zerfoss was an investment banker in Hawai'i with more than 34 years of experience when he was arrested in 2004 on charges of possessing child pornography. He had worked for years as Bank of Hawaii's senior vice president in charge of its asset-management group before moving to Central Pacific Bank as its chief investment officer in 2003.

In 2004, Zerfoss pleaded guilty to federal charges of felony possession of child pornography. He was charged after federal authorities raided his Prospect Street home in December 2003 and found child pornography in his computer.

U.S. District Judge David Ezra sentenced Zerfoss to 18 months in prison and three years of supervised release, which is similar to probation. He also was fined $25,000.

Under federal sentencing guidelines at the time, Zerfoss could have been sentenced to 27 to 32 months in prison. But Ezra said at the time that Zerfoss had undergone lengthy treatment and was "highly unlikely" to go back to paying for and getting child pornography through his home computer.