Chime Buys Stride Bank for $590M as Shares Jump 10% — SkimNews
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- Chime Financial will acquire nationally chartered Stride Bank for $590 million in an all-cash deal, with closing targeted for the first half of 2027.
- Chime shares jumped nearly 10% in extended trading on the news, extending a year-to-date gain of more than 28%.
- Chime told investors the deal will deliver more than $100 million in net synergies and calls it a faster path to 'full-stack ownership' than pursuing a de novo bank charter.
- Stride Bank was founded in 1913 in Enid, Oklahoma, provides consumer and commercial banking, and has partnered with Chime for more than seven years.
- Chime said it will manage Stride's balance sheet upon closing and intentionally keep Stride's assets below $10 billion to stay outside heightened regulatory thresholds.
- Chime also raised its full-year revenue forecast to 26%–27% growth, up from its prior 25%–26% range.
- Morgan Stanley is financial advisor to Chime; Piper Sandler & Co. is advising Stride.
Why it matters: By buying the bank it already partnered with for seven years, Chime sidesteps a multi-year de novo charter application and acquires direct control over deposits and lending rails — the foundation for its planned lending expansion. The deal's $100M-plus synergy target plus a raised 26%–27% revenue outlook explains why investors bid the stock up nearly 10% after hours, and the explicit sub-$10B asset pledge signals Chime wants banking infrastructure without inviting heavier mid-sized-bank regulation.
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