-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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MIC-Info: RSA-MD5,RSA,
 Rd/pQ+aEfhaUwC5ECaAOgRQO7UZGWJpBnhq0LDtEOo92u50j6fRhEnjgDyi+vqIL
 SrkDPsrIrPu9TU/EwioTAg==

<SEC-DOCUMENT>0000932334-06-000003.txt : 20060131
<SEC-HEADER>0000932334-06-000003.hdr.sgml : 20060131
<ACCEPTANCE-DATETIME>20060131124435
ACCESSION NUMBER:		0000932334-06-000003
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20060127
FILED AS OF DATE:		20060131
DATE AS OF CHANGE:		20060131

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			HALLMARK FINANCIAL SERVICES INC
		CENTRAL INDEX KEY:			0000819913
		STANDARD INDUSTRIAL CLASSIFICATION:	INSURANCE CARRIERS, NEC [6399]
		IRS NUMBER:				870447375
		STATE OF INCORPORATION:			NV
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		777 MAIN STREET, SUITE 1000
		CITY:			FORT WORTH
		STATE:			TX
		ZIP:			76102
		BUSINESS PHONE:		8173481600

	MAIL ADDRESS:	
		STREET 1:		777 MAIN STREET
		STREET 2:		STE 1000
		CITY:			FORT WORTH
		STATE:			TX
		ZIP:			76102

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ACOI INC
		DATE OF NAME CHANGE:	19920703

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	AMERICAN CREDIT OPTICAL INC /DE/
		DATE OF NAME CHANGE:	19910611

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	PYRAMID GROWTH INC
		DATE OF NAME CHANGE:	19890124

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			SCHWARZ MARK E
		CENTRAL INDEX KEY:			0001208889

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-11252
		FILM NUMBER:		06564901

	BUSINESS ADDRESS:	
		STREET 1:		NEWCASTLE PARTNERS L P
		STREET 2:		300 CRESCENT COURT STE 1110
		CITY:			DALLAS
		STATE:			TX
		ZIP:			75201
		BUSINESS PHONE:		2146617474

	MAIL ADDRESS:	
		STREET 1:		300 CRESCENT COURT
		STREET 2:		STE 1110
		CITY:			DALLAS
		STATE:			TX
		ZIP:			75201

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			NEWCASTLE PARTNERS L P
		CENTRAL INDEX KEY:			0000932334
		STATE OF INCORPORATION:			TX
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-11252
		FILM NUMBER:		06564903

	BUSINESS ADDRESS:	
		STREET 1:		300 CRESCENT COURT
		STREET 2:		STE 1110
		CITY:			DALLAS
		STATE:			TX
		ZIP:			75201
		BUSINESS PHONE:		2146617474

	MAIL ADDRESS:	
		STREET 1:		300 CRESCENT COURT
		STREET 2:		STE 1110
		CITY:			DALLAS
		STATE:			TX
		ZIP:			75201

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			NEWCASTLE CAPITAL GROUP LLC
		CENTRAL INDEX KEY:			0001251293

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-11252
		FILM NUMBER:		06564904

	BUSINESS ADDRESS:	
		STREET 1:		C/O NEWCASTLE CAPITAL MANAGEMENT LP
		STREET 2:		300 CRESCENT COURT STE 1110
		CITY:			DALLAS
		STATE:			TX
		ZIP:			75201
		BUSINESS PHONE:		2146617474

	MAIL ADDRESS:	
		STREET 1:		300 CRESCENT COURT
		STREET 2:		STE 1110
		CITY:			DALLAS
		STATE:			TX
		ZIP:			75201

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			NEWCASTLE CAPITAL MANAGEMENT LP
		CENTRAL INDEX KEY:			0001251296

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-11252
		FILM NUMBER:		06564902

	BUSINESS ADDRESS:	
		STREET 1:		C/O NEWCASTLE CAPITAL MANAGEMENT LP
		STREET 2:		300 CRESCENT COURT STE 1110
		CITY:			DALLAS
		STATE:			TX
		ZIP:			75201
		BUSINESS PHONE:		2146617474

	MAIL ADDRESS:	
		STREET 1:		300 CRESCENT COURT
		STREET 2:		STE 1110
		CITY:			DALLAS
		STATE:			TX
		ZIP:			75201
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>primary_doc.xml
<DESCRIPTION>PRIMARY DOCUMENT
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0202</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2006-01-27</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0000819913</issuerCik>
        <issuerName>HALLMARK FINANCIAL SERVICES INC</issuerName>
        <issuerTradingSymbol>HAF</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0000932334</rptOwnerCik>
            <rptOwnerName>NEWCASTLE PARTNERS L P</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>300 CRESCENT COURT</rptOwnerStreet1>
            <rptOwnerStreet2>STE 1110</rptOwnerStreet2>
            <rptOwnerCity>DALLAS</rptOwnerCity>
            <rptOwnerState>TX</rptOwnerState>
            <rptOwnerZipCode>75201</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
            <isOfficer>1</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle>C.E.O. &amp; CHAIRMAN</officerTitle>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001251296</rptOwnerCik>
            <rptOwnerName>NEWCASTLE CAPITAL MANAGEMENT LP</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>300 CRESCENT COURT</rptOwnerStreet1>
            <rptOwnerStreet2>STE 1110</rptOwnerStreet2>
            <rptOwnerCity>DALLAS</rptOwnerCity>
            <rptOwnerState>TX</rptOwnerState>
            <rptOwnerZipCode>75201</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
            <isOfficer>1</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle>C.E.O. &amp; CHAIRMAN</officerTitle>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001251293</rptOwnerCik>
            <rptOwnerName>NEWCASTLE CAPITAL GROUP LLC</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>300 CRESCENT COURT</rptOwnerStreet1>
            <rptOwnerStreet2>STE 1110</rptOwnerStreet2>
            <rptOwnerCity>DALLAS</rptOwnerCity>
            <rptOwnerState>TX</rptOwnerState>
            <rptOwnerZipCode>75201</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
            <isOfficer>1</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle>C.E.O. &amp; CHAIRMAN</officerTitle>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001208889</rptOwnerCik>
            <rptOwnerName>SCHWARZ MARK E</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>300 CRESCENT COURT</rptOwnerStreet1>
            <rptOwnerStreet2>STE 1110</rptOwnerStreet2>
            <rptOwnerCity>DALLAS</rptOwnerCity>
            <rptOwnerState>TX</rptOwnerState>
            <rptOwnerZipCode>75201</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
            <isOfficer>1</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle>C.E.O. &amp; CHAIRMAN</officerTitle>
        </reportingOwnerRelationship>
    </reportingOwner>

    <derivativeTable>
        <derivativeTransaction>
            <securityTitle>
                <value>Convertible Note</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>1.28</value>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2006-01-27</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>P</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionTimeliness>
                <value></value>
            </transactionTimeliness>
            <transactionAmounts>
                <transactionTotalValue>
                    <value>12550000</value>
                </transactionTotalValue>
                <transactionPricePerShare>
                    <value>12550000</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <footnoteId id="F3"/>
            </exerciseDate>
            <expirationDate>
                <value>2007-07-27</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>COMMON STOCK</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>9804687</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <valueOwnedFollowingTransaction>
                    <value>12550000</value>
                </valueOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                    <footnoteId id="F1"/>
                    <footnoteId id="F2"/>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeTransaction>
        <derivativeTransaction>
            <securityTitle>
                <value>CONVERTIBLE NOTE</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>1.28</value>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2006-01-27</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>P</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionTimeliness>
                <value></value>
            </transactionTimeliness>
            <transactionAmounts>
                <transactionTotalValue>
                    <value>12450000</value>
                </transactionTotalValue>
                <transactionPricePerShare>
                    <value>12450000</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <footnoteId id="F3"/>
            </exerciseDate>
            <expirationDate>
                <value>2007-07-27</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>COMMON STOCK</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>9726562</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <valueOwnedFollowingTransaction>
                    <value>12450000</value>
                </valueOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                    <footnoteId id="F1"/>
                    <footnoteId id="F4"/>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeTransaction>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">NEWCASTLE CAPITAL MANAGEMENT, L.P. (&quot;NCM&quot;) IS THE GENERAL PARTNER OF EACH OF NEWCASTLE PARTNERS, L.P. (&quot;NP&quot;), NEWCASTLE SPECIAL OPPORTUNITY FUND I, L.P. (&quot;NSOFI&quot;) AND NEWCASTLE SPECIAL OPPORTUNITY FUND II, L.P. (&quot;NSOFII&quot;), NEWCASTLE CAPITAL GROUP, L.L.C. (&quot;NCG&quot;) IS THE GENERAL PARTNER OF NCM, AND MARK E. SCHWARZ (&quot;SCHWARZ&quot;) IS THE MANAGING MEMBER OF NCG.  ACCORDINGLY, EACH OF NCM AND NCG AND SCHWARZ MAY BE DEEMED TO BENEFICIALLY OWN THE SHARES DIRECTLY OWNED BY ANY OF THEM.</footnote>
        <footnote id="F2">OWNED BY NSOFI.</footnote>
        <footnote id="F3">NOTES MAY NOT BE CONVERTED UNTIL STOCKHOLDER APPROVAL THEREOF IS OBTAINED.</footnote>
        <footnote id="F4">OWNED BY NSOFII.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>Newcastle Partners, L.P., By: Newcastle Capital Management, L.P., its general partner, By: Newcastle Capital Group, L.L.C. its general partner, by:/s/ Mark E. Schwarz, its managing member</signatureName>
        <signatureDate>2006-01-31</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>Newcastle Capital Management, L.P., By: Newcastle Capital Group, L.L.C. its general partner, By: /s/ Mark E. Schwarz, its managing member</signatureName>
        <signatureDate>2006-01-31</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>Newcastle Capital Group, L.L.C., By: /s/ Mark E. Schwarz, its managing member</signatureName>
        <signatureDate>2006-01-31</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>/s/ Mark E. Schwarz</signatureName>
        <signatureDate>2006-01-31</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>Newcastle Special Opportunity Fund I, L.P.</signatureName>
        <signatureDate>2006-01-31</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>Newcastle Special Opportunity Fund II, L.P.</signatureName>
        <signatureDate>2006-01-31</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----