UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 12b-25
NOTIFICATION OF LATE FILING
SEC FILE NUMBER: 0-16090
CUSIP NUMBER:
(Check One):[ ] Form 10-K or Form 10-KSB
[ ] Form 20-F
[X] Form 10-Q or Form 10-QSB
[ ] Form N-SAR
For Period Ended: June 30, 2002
[ ] Transition Report on Form 10-K or Form 10-KSB
[ ] Transition Report on Form 20-F
[ ] Transition Report on Form 11-K
[ ] Transition Report on Form 10-Q or Form 10-QSB
[ ] Transition Report on Form N-SAR
For the Transition Period Ended:
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Read Instruction (on back page) Before Preparing Form. Please
Print or Type.
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Nothing in this form shall be construed to imply that the
Commission has verified any information contained herein.
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If the notification relates to a portion of the filing checked
above, identify the Item(s) to which the notification relates:
_________________________________________________________________
PART I - REGISTRANT INFORMATION
Full Name of Registrant: Hallmark Financial Services, Inc.
Former Name, if Applicable: Not Applicable.
Address of Principal Executive
Office (Street and Number): 14651 Dallas Parkway, Suite 900
City, State and Zip Code: Dallas, Texas 75254
PART II - RULES 12b-25(b)and(c)
If the subject report could not be filed without unreasonable effort or
expense and the registrant seeks relief pursuant to Rule 12b-25(b), the
following should be completed. (Check box if appropriate)
[X] (a) The reasons described in reasonable detail in Part III of this
form could not be eliminated without unreasonable effort or expense;
[X] (b) The subject annual report, semi-annual report or transition
report on Form 10-K, Form 10-KSB, Form 20-F, Form 11-K or Form N-SAR, or
portion thereof, will be filed on or before the fifteenth calendar day
following the prescribed due date; or the subject quarterly report or
transition report on Form 10-Q or Form 10-QSB, or portion thereof, will be
filed on or before the fifth calendar day following the prescribed due date;
and
[ ] (c) The accountant's statement or other exhibit required by Rule
12b-25(c) has been attached if applicable.
PART III - NARRATIVE
State below in reasonable detail the reasons why Forms 10-K, 10-KSB, 20-F,
11-K, 10-Q, 10-QSB or N-SAR, or the transition report or portion thereof,
could not be filed within the prescribed time period. (Attach Extra Sheets
if Needed.)
The Registrant's quarterly report on Form 10-QSB could not be filed within
the prescribed time period because all information necessary to complete the
preparation of the financial statements was not available to the Registrant
in sufficient time for review by management and the independent certified
public accountants. The Form 10-QSB was electronically filed shortly after
the close of business on the due date.
PART IV - OTHER INFORMATION
(1) Name and telephone number of person to contact in regard to this
notification:
Name: Linda H. Sleeper
Area Code and Telephone Number: (972) 404-1637
(2) Have all other periodic reports required under Section 13 or 15(d) of
the Securities Exchange Act of 1934 or Section 30 of the Investment Company
Act of 1940 during the preceding 12 months or for such shorter period that
the Registrant was required to file such reports been filed? If answer is
no, identify report(s).
[X] Yes
[ ] No
(3) Is it anticipated that any significant change in results of operations
from the corresponding period for the last fiscal year will be reflected by
the earnings statements to be included in the subject report or portion
thereof?
[X] Yes
[ ] No
If so, attach an explanation of the anticipated change, both narratively
and quantitatively, and, if appropriate, state the reasons why a reasonable
estimate of the results cannot be made.
Results of operations for the quarter and six months ended June 30,
2002, improved from the comparable periods of the preceding fiscal year
principally as a result of management's focus on rate adequacy, underwriting
discipline and agent management. Net income for the three and six months
ended June 30, 2002 were $143,000 ($0.01 per share) and $338,000 ($0.03 per
share), respectively, compared to net losses of $710,000 (-$0.06 per share)
and $809,000 (-$0.07 per share), respectively, for the same periods in 2001.
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HALLMARK FINANCIAL SERVICES, INC.
(Name of Registrant as Specified in Charter)
has caused this notification to be signed on its behalf by the undersigned
hereunto duly authorized.
HALLMARK FINANCIAL SERVICES, INC.
By: /s/ LINDA H. SLEEPER
Linda H. Sleeper
Chief Executive Officer
Date: August 15, 2002
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INSTRUCTION: The form may be signed by an executive officer of the
registrant or by any other duly authorized representative. The name and
title of the person signing the form shall be typed or printed beneath the
signature. If the statement is signed on behalf of the registrant by an
authorized representative (other than an executive officer), evidence of
the representative's authority to sign on behalf of the registrant shall be
filed with the form.
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ATTENTION
Intentional misstatements or omissions of fact constitute Federal
Criminal Violations (See 18 U.S.C. 1001).