Chime Financial has announced the acquisition of Stride Bank, N.A. for $590 million in an all-cash deal. The company plans to rebrand the institution as Chime Bank, N.A. upon completion of the transaction, which is expected in the first half of 2027 pending regulatory approval.
The acquisition price represents approximately 1.5 times the tangible book value of Stride Bank. Chime anticipates that the vertical integration will generate over $100 million in net synergies by eliminating sponsor bank fees and allowing for an expanded lending product suite.
Following the announcement, Chime updated its 2026 financial guidance, projecting revenue between $2.76 billion and $2.77 billion, reflecting growth of 26% to 27%. Adjusted EBITDA is now expected to be between $481 million and $489 million.
Chime intends to maintain the assets of the new entity below the $10 billion threshold to avoid fee caps on debit card interchange transactions mandated by the Durbin Amendment. The company will continue its partnership with The Bancorp Bank, N.A. during the transition.
