SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                         ______________________________

                                    FORM 8-K

                 CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d)

                     OF THE SECURITIES EXCHANGE ACT OF 1934




        Date of report (date of earliest event reported): August 13, 2003




                        FINANCIAL INDUSTRIES CORPORATION
               (Exact name of Registrant as specified in charter)




           Texas                      0-4690                     74-2126975
(State or other jurisdiction  (Commission file number)       (I.R.S. employer
     of incorporation)                                       identification no.)





                      6500 River Place Blvd., Building One
                               Austin, Texas 78730
                    (Address of principal executive offices)

       Registrant's telephone number, including area code: (512) 404-5000



                         ______________________________


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Item 7. FINANCIAL STATEMENTS AND EXHIBITS

          (c) Exhibits

          The following exhibit is included with this Report:

          Exhibit 99.1 Press  release  dated August 13, 2003 issued by Financial
          Industries Corporation (the "Registrant")


Item 9.  REGULATION FD DISCLOSURE

The  following  information  is  furnished  pursuant to Item 9,  "Regulation  FD
Disclosure"  and Item 12,  "Disclosure  of Results of  Operations  and Financial
Condition."

On August  13,  2003,  the  Registrant  issued a press  release  announcing  the
Registrant's  financial  results for the quarter  ended June 30, 2003. A copy of
the  Registrant's  press  release is attached  hereto as Exhibit 99.1 and hereby
incorporated  by reference.  The information in this Form 8-K is being furnished
under Item 9 and Item 12 and shall not be deemed to be "filed" for the  purposes
of Section 18 of the Securities  and Exchange Act of 1934 (the "Exchange  Act"),
or  otherwise  subject  to the  liabilities  of such  section,  nor  shall  such
information  be  deemed  incorporated  by  reference  in any  filing  under  the
Securities  Act of 1933 or the Exchange  Act,  except as shall be expressly  set
forth by specific reference in such a filing.




                                   SIGNATURES

Pursuant  to the  requirements  of the  Securities  Exchange  Act of  1934,  the
registrant  has duly  caused  this  report  to be  signed  on its  behalf by the
undersigned hereunto duly authorized.


                                        FINANCIAL INDUSTRIES CORPORATION


                                        Date: August 13, 2003


                                        By:      /s/ Eugene E. Payne
                                            ___________________________________
                                            Eugene E. Payne
                                            Chief Executive Officer


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                                  Exhibit 99.1

(BW) (Financial Industries  Corporation) (FNIN) FINANCIAL INDUSTRIES CORPORATION
ANNOUNCES RESULTS FOR QUARTER ENDED JUNE 30, 2003

AUSTIN,  Texas --  (BUSINESS  WIRE) - August 13,  2003 --  Financial  Industries
Corporation  ("FIC" or the "Company")  (Nasdaq:  FNIN) today reported a net loss
for the  six-month  period ended June 30, 2003 of $1.8 million (or ($0.18) basic
and diluted earnings per common share) on revenues of $59.6 million, as compared
to net  income of $10.8  million  (or $1.13  basic and $1.12 on a diluted  basis
earnings per common  share) on revenues of $62.2  million for the same period in
2002.  Net income for the period  ended  June 30,  2002,  before the  cumulative
effect of change in accounting  principle,  was $0.3 million  (basic and diluted
earnings of $0.03 per common share).

The net loss for the  three-month  period  ended June 30, 2003 was  $507,000 (or
($0.05)  on a  basic  and  diluted  basis  per  common  share)  on  revenues  of
$30,046,000  as compared  to a net loss of  $247,000  (or ($0.03) on a basic and
diluted basis per common share) on revenues of $30,002,000  for the  three-month
period ended June 30, 2002.

"During  the  first-half  of this  year,  FIC  incurred  significant  legal  and
administrative  expenses. With these behind us, we are pleased with the progress
we are making in getting  back on track," said Eugene E. Payne,  President,  CEO
and Chairman of FIC.  "Our  business goal for the next quarter is to continue to
develop  and  expand  our  business  opportunities  unburdened  by the costs and
distractions associated with these prior activities."

In the first six  months of 2003,  net  income  was  adversely  affected  by the
following expenses:  (i) a $2.9 million expense related to the settlement of the
litigation  between FIC, Roy F. Mitte (the former  Chairman and Chief  Executive
Officer of the Company),  and the Roy F. and Joann Cole Mitte  Foundation;  (ii)
$476,000  related to payments  to be made to retired  chief  marketing  officer,
Jeffrey  Demgen,  pursuant to his employment  agreement;  (iii) $400,000 paid to
William P. Tedrow,  chief marketing  officer of FIC and President of FIC's newly
formed subsidiary,  FIC Financial Services,  Inc. ("FICFS"),  for his efforts in
organizing and integrating the recent acquisitions made by FICFS; (iv) legal and
other expenses  related to litigation  and proxy  matters;  and (v) fees paid to
Salomon Smith Barney. Net income and earnings per share for the six month period
ended  June 30,  2002  were  affected  by the  cumulative  effect of a change in
accounting principle of $10.4 million. This amount represents the excess of fair
value of net assets  acquired  over cost as of the  beginning of 2002 related to
the merger between FIC and  InterContinental  Life Corporation in May, 2001. The
Company recorded this cumulative  effect in conjunction with adopting  Statement
of Financial Accounting Standards No. 141 (FAS 141), "Business Combinations," in
the first quarter of 2002, as required by FAS 141.


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Additionally,  results  for the  six-month  period  ended  June  30,  2002  have
previously been restated.

References  to results for the three and  six-month  periods ended June 30, 2002
are to restated results.

Earnings per share have been  calculated  in accordance  with FAS No.128,  which
requires that earnings per share be presented on both a basic and diluted basis.
Diluted  earnings per share reflect the  potential  dilution that could occur if
securities or other contracts to issue common stock were converted or exercised.

Financial Industries Corporation, through its various subsidiaries,  markets and
underwrites individual life insurance and annuity products. The Company's Nasdaq
symbol is FNIN. For more information on FIC, go to on the Internet.

6-Mos (ending 6/30)                         2003                       2002
                                                                     RESTATED

Net (loss) income                       ($1,771,000)               $10,764,000

(Loss) income before cumulative
effect of change in
accounting principle                    ($1,771,000)               $   335,000

Cumulative effect of change in
accounting principle                    $         0                $10,429,000

Revenues                                $59,622,000                $62,243,000

(Loss) Income Per Share (Basic)
Before Cumulative effect of
change in accounting principle               ($0.18)                     $0.03

Cumulative effect of change in
accounting principle                    $         0                      $1.10

Basic earnings per share                     ($0.18)                     $1.13

(Loss) Income Per share (Diluted)
Before Cumulative effect of
change in accounting principle               ($0.18)                     $0.03

Cumulative effect of change in
accounting principle                    $         0                      $1.09

Diluted earnings per share                   ($0.18)                     $1.12

Contact:   Bob   Bender,    Corporate   Relations   Officer,   (512)   404-5080,
bbender@ficgroup.com.


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