FBR & Co. (FBRC): Voce Capital Seeking Proxies for Its Proposals

Page 7 of 9 – SEC Filing

The Reporting Persons reserve the right at any time to
formulate alternative plans, make other proposals or take additional actions
with respect to all of the foregoing matters referred to in this Item 4 of
Schedule 13D.

Item 5. INTEREST IN SECURITIES OF THE ISSUER

Item 5(a) is hereby amended and supplemented to add the
following at the end of such item:

Jarl Berntzen, one of Voce Catalysts nominees to the board of
directors of the Issuer, acquired 2,000 Shares on April 1, 2016 and 500 Shares
on April 4, 2016. Mr. Berntzen disclaims beneficial ownership of Shares
beneficially owned by the Reporting Persons. The Reporting Persons disclaim
beneficial ownership of the Shares beneficially owned by Mr. Berntzen.

Item 7. MATERIAL TO BE FILED AS EXHIBITS

Item 7 is hereby amended to add the following:

Exhibit 7        Preliminary
Proxy Statement on Schedule 14A (incorporated by reference to Schedule 14A filed
by Voce Capital Management with the Securities and Exchange Commission on May 2,
2016)

Exhibit 8        Press
Release dated May 3, 2016 (incorporated by reference to Exhibit 1 to Schedule
14A filed by Voce Capital Management with the Securities and Exchange Commission
on May 3, 2016)