"Because each of these 20 stores has been operating for less than one year, we believe we can quickly implement our convenient lending approach to drive volumes and increase revenues"
Darrin Andersen, QC's President and Chief Operating Officer

QC Holdings, Inc (QCCO) announced today that it completed the acquisition of 20 payday loan stores in Oklahoma. The stores have been open for less than one year, currently operate under the trade name Check First, and are located throughout Oklahoma, including four each in Tulsa and Oklahoma City. QC expects to integrate and re-brand the stores over the next six months. The transaction was an asset purchase for approximately $1.4 million in cash. With the acquisitions, QC now operates 350 stores in 22 states.

Darrin Andersen, QC's President and Chief Operating Officer, commented: "We are excited about the opportunity to continue our growth in Oklahoma by gaining market share through this transaction. Because each of these 20 stores has been operating for less than one year, we believe we can quickly implement our convenient lending approach to drive volumes and increase revenues."

Headquartered in Kansas City, Kansas, QC Holdings, Inc. is a leading provider of payday loans in the United States, operating 350 stores in 22 states.