Without the aquisition of Midwest, Republic would have had earnings of $19.2M which is an increase of $2M in net income from last years quarter. With approximately 37.7M shares outstanding then this quarter's earnings would have been $0.51 per share for an annualized earnings of $2.04 eps. This is without the acquisition of Midwest. If Midwest can start to earn opperating profits then Republic is worth even more. They are currently trading at 3x current earnings potential. They are trading at less than 20x earnings during an acquisition period which is incredible. I see Republic as currently worth approximately $14-16 a share which values futures earnings at 7-8x which is fair. At these levels Republic is a strong buy!