This is becoming a more and more common occurrence. Unfortunately, it is likely a compatibility issue. This motherboard is 5 generations and 6 years old. The graphics card has expectations that the board and its BIOS are unable to meet.
One thing you can try is enabling UEFI. You will have to put back the old graphics card to do this. Unfortunately, if it works, you will likely have to reinstall Windows.
Sorry I don't have a better answer...
The graphics card comes with bus type PCIe 3.0 and motherboard has PCIe 2.0; additionally the processor supports memories of DDR3 at 800 / 1066Mhz while Kingston memories run at 1600MHz. The Intel® Core™ i7-940 belongs to the first generation Core™ processors.
It is necessary to use an older graphics card with this motherboard.