Chime Financial entered a definitive agreement to acquire Stride Bank, N.A. for $590 million in cash. This acquisition allows Chime to own the banking infrastructure behind its consumer accounts. Stride Bank has partnered with Chime for over seven years. Upon closing, the entity will be renamed Chime Bank, N.A. and operate as a wholly-owned subsidiary.
The deal is expected to provide more than $100 million in net synergies. Chime projects the transaction will be immediately accretive to its earnings per share. The company updated its 2026 revenue forecast to between $2.76 billion and $2.77 billion. The transaction is anticipated to close in the first half of 2027.