Chime Financial Inc. (NASDAQ: CHYM) announced a definitive agreement to acquire nationally chartered Stride Bank, N.A. for $590 million in cash. Under the deal, Chime acquires Central Service Corporation, Stride’s parent, with the purchase price subject to certain adjustments, the company said in a BusinessWire release on Sept. 8.
Stride has been a Chime bank partner for more than seven years. Upon closing, Stride will become Chime Bank, N.A. and operate as a wholly owned Chime subsidiary. The transaction is expected to close in the first half of 2027, subject to approvals by the Office of the Comptroller of the Currency and the Federal Reserve Board.
Chime said the deal is expected to help realize more than $100 million in net synergies, company guidance only. Chime also said it will keep bank assets below $10 billion for the foreseeable future after closing. Reuters reported shares jumped nearly 10% in extended trading after the Tuesday announcement. Approvals are not assured.
Sources: BusinessWire Sept 8, 2026 4:05 PM EDT (Chime definitive agreement; $590M cash for CSC/Stride; Stride to become Chime Bank, N.A.; 7+ year partner; close 1H 2027; OCC and Fed approvals); Reuters Sept 8 ($590M; >$100M net synergies company guidance; assets below $10B; ~10% extended-trading jump; de novo path framing); Reuters Sept 9 (~7% morning / ~11% deal-path surge framing; Durbin/<$10B analyst color; The Bancorp -18%).
