HALLMARK FINANCIAL SERVICES, INC. (NASDAQ:HALL) Files An 8-K Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year

Item 5.03

The board of directors (the Board) of Hallmark Financial
Services, Inc. (the Company) has adopted Amended and Restated
Bylaws of the Company effective as of March 24, 2017. The primary
effect of the bylaw amendments is to implement majority voting in
uncontested director elections in response to an advisory vote of
shareholders at the 2016 Annual Meeting of Shareholders by
revising Article III, Section 2 and adding Article III, Section
2A. The Amended and Restated Bylaws also (a) update the location
of the principal office of the Company (Article I, Section 1),
(b) make minor changes to certain provisions with respect to the
appointment, roles, responsibilities and prerogatives of the
officers (Article I, Section 3; Article V, Sections 3, 4, 5 and
8; and Article VIII, Section 5), (c) clarify the permissive
compensation and reimbursement of directors in connection with
their service on the Board (Article III, Section 11), (d) remove
the ability of the Board to delegate the declaration of dividends
to a committee (Article VIII, Section 1); and (e) correct,
clarify or delete various immaterial typographical errors,
cross-references and superfluous provisions.

The foregoing description of the First Amendment is qualified in
its entirety by reference to the full text of the Amended and
Restated Bylaws filed as an exhibit to this Current Report on
Form 8-K and incorporated herein by this reference.

About HALLMARK FINANCIAL SERVICES, INC. (NASDAQ:HALL)

Hallmark Financial Services, Inc. is an insurance holding company. The Company markets, distributes, underwrites and services its property/casualty insurance products to businesses and individuals. Its business involves marketing, distributing, underwriting and servicing insurance products, as well as providing other insurance related services. Its segments include Standard Commercial Segment, Specialty Commercial Segment and Personal Segment. The Company’s Standard Commercial P&C operating unit primarily underwrites low-severity, short-tailed commercial property/casualty insurance products in the standard market. The Company reinsures a portion of the risk it underwrites in order to control the exposure to losses and to protect capital resources. Its Workers Compensation operating unit specializes in small and middle market workers compensation business. Its Specialty Commercial operating unit offers general aviation and satellite launch insurance products and services.

HALLMARK FINANCIAL SERVICES, INC. (NASDAQ:HALL) Recent Trading Information

HALLMARK FINANCIAL SERVICES, INC. (NASDAQ:HALL) closed its last trading session up +0.02 at 11.09 with 26,151 shares trading hands.