Chime to Acquire Stride Bank for $590 Million

Fintech company Chime has entered into a definitive agreement to acquire Stride Bank for $590 million in cash. The transaction, which is expected to close in the first half of 2027 pending regulatory approvals, will see Stride Bank operate as a wholly owned subsidiary of Chime and be rebranded as Chime Bank, N.A. This move marks a significant step for Chime, transitioning from a model reliant on partner banks to one with direct control over its banking infrastructure. Stride Bank, a nationally chartered institution founded in 1913, has served as Chime's banking partner for over seven years. The acquisition aims to integrate Stride's national charter and bank infrastructure with Chime's digital core and brand. According to Chime, this integration is expected to accelerate the development of regulatory-compliant products, enhance resilience, and foster greater member trust, encouraging more consumers to designate Chime as their primary account. The deal is also projected to provide substantial financial benefits, including approximately $100 million in net synergies.