Hallmark Financial Announces Resignation of Chief Financial Officer

Fort Worth, Texas, UNITED STATES

DALLAS, Sept. 21, 2020 (GLOBE NEWSWIRE) -- Hallmark Financial Services, Inc. (“Hallmark Financial” or “Company”) (NASDAQ: HALL), a specialty property and casualty insurance company, today announced that on September 15, 2020, Jeff Passmore, Chief Financial Officer, submitted his resignation. Mr. Passmore will remain with the Company through October 9, 2020, to facilitate an orderly transition.

Naveen Anand, President & Chief Executive Officer, stated “On behalf of Hallmark, we want to thank Jeff for his contributions to the organization over the past 18 years, and we wish him well as he pursues a new opportunity.”

The Company has commenced a search for a new CFO. “We are taking this opportunity to conduct a formal search for a new CFO and to continue to expand the depth of our executive bench strength,” explains Mr. Anand.

In the Interim, Christopher Kenney, SVP and Chief Accounting Officer, will serve as the Company’s principal financial officer.

About Hallmark Financial
Hallmark Financial is a specialty property and casualty insurance company with a diversified portfolio of insurance products written on a national platform. With six insurance subsidiaries and offices in Dallas-Fort Worth, Atlanta, Chicago, and Jersey City, Hallmark Financial markets, underwrites and services commercial and personal insurance policies in select niche markets. Hallmark Financial is headquartered in Dallas, Texas and its common stock is listed on NASDAQ under the symbol "HALL".

Forward-looking statements in this release are made pursuant to the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that actual results may differ materially from such forward-looking statements. Forward-looking statements involve risks and uncertainties including, but not limited to, continued acceptance of the Company’s products and services in the marketplace, competitive factors, interest rate trends, general economic conditions, the availability of financing, underwriting loss experience, timing of run-off, changes in policy rates, terms, conditions and limits, and other risks detailed from time to time in the Company’s filings with the Securities and Exchange Commission.

Investor Contact:
David Webb
Senior Vice President, Corporate Development & Strategy

Hallmark Financial Services, Inc.