Evolve CEO Arrested, Terminated on Child Porn Charges

Evolve Bank & Trust CEO Bob Hartheimer, 68, was arrested by federal agents at the bank’s Memphis headquarters on Thursday, Oct. 23, after the FBI executed arrest and search warrants. Court and jail records charge him with sexual exploitation of a minor (material/photograph) and distributing obscene material/child pornography; he was booked into Shelby County custody and his federal court appearance has been rescheduled for Oct. 28. The bank’s board terminated Hartheimer effective immediately and named President/CFO Mark Mosteller and EVP and General Counsel Joelle Weltzin to oversee operations. The board said the U.S. Attorney’s Office has assured them the matter is personal and not related to the bank’s operations; the U.S. Attorney’s Office has otherwise offered few public comments, parts of the case remain under seal, and the investigation is continuing. Hartheimer, appointed CEO in August, is a longtime regulator and compliance executive who previously worked at the FDIC and had been brought in to help Evolve address a 2024 consent order.