The board of FBR& Co. approved an increase in the company's available repurchaseauthorization to 750,000 common shares.

During the second quarter, the company repurchased approximately575,000 common shares in the open market at an aggregate price of $10.1 million,or an average price of $17.49 per share. FBR also acquired an additional 145,000common shares outside of the share repurchase program as a result of netting ofshares for tax-withholding purposes on employee share vestings for $2.7 million.