CONTACT:
Timothy A. Bienek
President and COO
(972) 866-5708
DALLAS, Texas -- December 31, 2002 -- Hallmark Financial Services,
Inc. (Amex: HAF.EC) ("Hallmark") today announced the hiring of two
executives who will join the Company on January 1, 2003. Scott K. Billings will
join the Company as the Chief Financial Officer of Hallmark and Brookland F.
Davis will join the company as the President of the American Hallmark Insurance
Group, the Texas Non-Standard Auto Division of Hallmark. The Company also announced
that John DePuma, its current Chief Financial Officer, will take on new responsibilities
as the Senior Vice President of Corporate Planning.
"The addition of Scott and Brooks adds depth to a strong Hallmark team,"
said Mark E. Schwarz, Chairman of Hallmark Financial Services, Inc. "We
appreciate all that John has accomplished as Chief Financial Officer, and look
forward to the contribution he will make in his new role."
Scott E. Billings joins the company from Benfield Blanch Holdings, Inc., where
he had been the Chief Financial Officer of its domestic operations. Scott previously
had been the Chief Accounting Officer for E.W. Blanch Holdings, Inc., the publicly-traded
predecessor to Benfield Blanch. He also worked as the Controller for H.D. Vest
Financial Services. Scott is a Certified Public Accountant and a graduate of
the University of New Mexico, where he received a B.B.A. in accounting.
Brookland F. Davis joins the Company from Bankers Insurance Group, where he
lead the non-standard auto insurance operations for the group. Prior to joining
Bankers, Brooks was the Chief Financial Officer for Paragon Insurance Holdings,
a multi-state managing general agency offering non-standard auto and homeowners
insurance in Texas, Louisiana and Arkansas. He was also the Vice President and
Treasurer of Midland Financial Group. Brooks is a Certified Public Accountant
and began his career with Coopers & Lybrand. He is a graduate of the University
of Memphis where he earned a B.B.A. in accounting.
Hallmark Financial Services, Inc. is engaged primarily in underwriting, marketing
and financing non-standard automobile insurance in the State of Texas and in
marketing commercial lines insurance in Texas, New Mexico, Idaho, Oregon and
Washington. The Company is headquartered in Dallas, Texas and its common stock
is listed on the American Stock Exchange under the symbol "HAF.EC".
Forward-looking statements in this Release are made pursuant to the "safe
harbor" provisions of the Private Securities Litigation Act of 1995. Investors
are cautioned that actual results may differ substantially from such forward-looking
statements. Forward-looking statements involve risks and uncertainties including,
but not limited to, consummation of contemplated transactions, continued acceptance
of the Company's products and services in the marketplace, competitive factors,
interest rate trends, the availability of financing, underwriting loss experience
and other risks detailed from time to time in the Company's periodic report
filings with the Securities and Exchange Commission.
For further information, please contact:
Timothy A. Bienek, President and COO at (972) 866-5708
www.hallmarkgrp.com
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