8-K

                                UNITED STATES
                      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):  March 5, 2004



                      HALLMARK FINANCIAL SERVICES, INC.
                      ---------------------------------
            (Exact name of registrant as specified in its charter)



            Nevada                  0-16090                87-0447375
 ----------------------------     -----------          -------------------
 (State or other jurisdiction     (Commission             (IRS Employer
       of incorporation)          File Number)         Identification No.)



   777 Main Street, Suite 1000, Fort Worth, Texas            76102
   ----------------------------------------------          ----------
      (Address of principal executive offices)             (Zip Code)


   Registrant's telephone number, including area code:  (817) 348-1600



                                Not Applicable
        (Former name or former address, if changed since last report.)



 Item 7.   Financial Statements, Pro Forma Financial Information and
           Exhibits.

 (c)       Exhibits.

           Exhibit 99.1 Press Release dated March 5, 2004


 Item 9.   Regulation FD Disclosure.

      On March 5, 2004, the Registrant issued a press release announcing the
 appointment of Chief Financial Officer, Mark J. Morrison.


                                 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.


                               HALLMARK FINANCIAL SERVICES, INC.


 Date:  March 5, 2004          By: /s/ Mark E. Schwarz
                               -----------------------
                               Mark E. Schwarz, Its Chief Executive Officer

EX-99.1

                                                                 EXHIBIT 99.1


                       Hallmark Financial Services, Inc.

  American Hallmark Insurance Group    *  Hallmark General Agency
  Phoenix Indemnity Insurance Company  *  Effective Claims Management, Inc.



                            FOR IMMEDIATE RELEASE

                      HALLMARK FINANCIAL SERVICES, INC.

         Hallmark Announces Mark J. Morrison, Chief Financial Officer


 FORT WORTH, Texas,  (March 5,  2004)  -  Hallmark  Financial Services,  Inc.
 (Amex: HAF.EC) ("the Company")  today announced the  appointment of Mark  J.
 Morrison as  Executive Vice  President and  Chief Financial  Officer of  the
 Company  effective  March 22, 2004.   Mr.  Morrison  will  be  charged  with
 managing and executing all aspects of the financial growth of the Company.

 Mr. Morrison joins the Company most recently from Associates Insurance Group
 in Dallas,  Texas, a  subsidiary of  Travelers Property  Casualty, where  he
 served as President  since January 2001.  Prior to that  he served as  Chief
 Financial  Officer  of  Associates  First  Capital  Corporation's  insurance
 operations, which included Associates  Insurance Group, Northland  Insurance
 Group, American Equity  Insurance Group  and  Mendota Insurance  Group.  Mr.
 Morrison also previously  held various  accounting and financial  management
 positions in the insurance industry with Republic Insurance Group and Anthem
 Insurance Services.  He began  his professional  career  in  1982 in  public
 accounting with Ernst & Young, LLP in Indianapolis, Indiana, where  he ended
 his  tenure  in  1991  as  a  Senior Manager  of  Assurance Services serving
 the  insurance  practice.  Mr. Morrison  holds  a  CPA certification  and  a
 Bachelor of Science degree in Business  Accounting from  Indiana  University
 (Bloomington).

 Mark E. Schwarz, Chairman and Chief Executive Officer of the Company stated,
 "We are pleased to  have Mark Morrison bring  his 22 years of  experience in
 financial management,  administration  and  strategic planning  to  Hallmark
 Financial Services.  Mark's experience includes 13 years  in the property  &
 casualty insurance  industry  working  in senior  positions  at  Associates,
 Republic Insurance Group and Anthem."

 Mr. Morrison will be succeeding Scott  K. Billings who has left  the Company
 to pursue other business interests.

 Hallmark Financial Services, Inc. engages primarily in sale of  property and
 casualty insurance products. The  Company's business involves marketing  and
 underwriting of  non-standard  personal  automobile insurance  primarily  in
 Texas, Arizona and New  Mexico, marketing commercial insurance  primarily in
 Texas,  New  Mexico,  Idaho,  Oregon  and  Washington,  third  party  claims
 administration,  and  other  insurance  related  services.  The  Company  is
 headquartered in Fort  Worth, 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, 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:
    Mark E. Schwarz, Chairman and Chief Executive Officer at 817.348.1600
                             www.hallmarkgrp.com

 ____________________________________________________________________________
 777 Main Street, Suite 1000   *   Fort Worth, Texas 76102   *   817-348-1600
                                                             Fax 817-348-1815