Item 8.01 Other Events

As previously disclosed, on December 2, 2022, Hallmark Financial Services, Inc. (the "Company") received notice from Nasdaq that, based on the closing bid price of the Company's common stock for the previous 30 consecutive business days, the Company was not in compliance with Nasdaq's continued listing standard requiring maintenance of a minimum closing bid price of $1.00 per share. By letter dated January 18, 2023, Nasdaq notified the Company that it had regained compliance with Nasdaq's minimum closing bid price requirement as a result of the closing bid price of the Company's common stock exceeding $1.00 per share for the previous ten consecutive business days.

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