November 18, 2017 8:17 AM ET


Company Overview of American Hallmark Insurance Co Of Texas

Company Overview

American Hallmark Insurance Co. Of Texas provides property, causality, and automobile insurance services. The company is based in Fort Worth, Texas. American Hallmark Insurance Co. Of Texas operates as subsidiary of American Hallmark General Agency, Inc.

777 Main Street

Suite 1000

Fort Worth, TX 79102

United States

Founded in 1982

Key Executives for American Hallmark Insurance Co Of Texas

American Hallmark Insurance Co Of Texas does not have any Key Executives recorded.

American Hallmark Insurance Co Of Texas Key Developments

Hallmark Financial Services, Inc., American Hallmark Insurance Company of Texas and Hallmark Insurance Company Enter into First Amendment to Second Restated Credit Agreement and Revolving Facility B Agreement with Frost Bank

On December 17, 2015, Hallmark Financial Services Inc. and two of its insurance company subsidiaries, American Hallmark Insurance Company of Texas (AHIC) and Hallmark Insurance Company (HIC), entered into a first amendment to second restated credit agreement and a revolving facility B agreement with Frost Bank. The first amendment amends the existing second restated credit agreement with Frost to incorporate the additional credit facility reflected by the facility B agreement. The facility B agreement provides Hallmark a new $30.0 million revolving credit facility (‘facility B’), in addition to its existing $15.0 million revolving credit facility with Frost. Hallmark may use facility B loan proceeds solely for the purpose of making capital contributions to AHIC and HIC. Hallmark may borrow, repay and reborrow under the facility B until December 17, 2017, at which time all amounts outstanding under the facility B are converted to a term loan. In connection with facility B, Hallmark has paid a Frost a one-time commitment fee of $75,000 and will pay Frost an additional quarterly fee through December 17, 2017 of 0.25% per annum of the average daily unused balance of facility B. Facility B bears interest at a rate equal to the prime rate or LIBOR plus 3.00%, at Hallmark’s election. Until December 17, 2017, interest only on amounts from time to time outstanding under facility B are payable quarterly. Any amounts outstanding on Facility B as of December 17, 2017 are converted to a term loan payable in quarterly installments over five years based on a seven year amortization of principal plus accrued interest. All remaining principal and accrued interest become due and payable on December 17, 2022.

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