Chime to buy sponsor bank Stride for $590m in cash, target close in first half of 2027
AI Market Summary
Chime's $590m cash acquisition of sponsor bank Stride accelerates its shift toward full-stack banking, targeting >$100m net synergies and higher near-term revenue guidance, while adding bank-holding-company regulatory oversight pending OCC and Fed approval. The plan to keep assets below $10bn highlights interchange-fee economics as a key profit lever. Spillover risk centers on partner banks, underscored by sharp declines in Bancorp shares.
Impact level
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Digital bank Chime said it will acquire Stride Bank for $590m in cash after partnering with the lender for seven years, and plans to rename it Chime Bank. The company said it expects more than $100m in net synergies from the deal and raised its revenue outlook to $705m for the current quarter, about 30% higher year on year, with full-year guidance of $2.76bn to $2.77bn. The transaction still requires approval from the Office of the Comptroller of the Currency and the Federal Reserve.
