Chime Agrees to Acquire Stride Bank for 590 Million Dollars to Become a Chartered Bank

Fintech company Chime announced on September 8 that it has agreed to acquire Stride Bank, N.A. for 590 million dollars in an all-cash transaction, a move that will transform the company from a fintech partner into a chartered bank.

The deal is expected to close in the first half of 2027, pending regulatory approval from the Office of the Comptroller of the Currency and the Federal Reserve. Once complete, Stride Bank will become a wholly owned subsidiary operating as Chime Bank, N.A.

Chime has partnered with Stride Bank for more than seven years, using the bank's charter to offer checking accounts, savings accounts, and debit cards to its customers. By acquiring Stride outright, Chime aims to eliminate third-party sponsor bank fees and reduce its overall funding costs.

The company said it expects to realize more than 100 million dollars in net synergies from the combination. Chime also raised its 2026 revenue guidance following the announcement, projecting full-year revenue between 2.76 billion and 2.77 billion dollars, a 26 to 27 percent increase over the prior year.

Brud Baker, the current chairman and CEO of Stride Bank, is expected to continue leading the organization as it transitions into a Chime subsidiary.

Chime said it plans to keep the assets of the new Chime Bank, N.A. below the 10 billion dollar threshold for the foreseeable future. Staying below that level allows the company to avoid the debit interchange fee caps that apply to larger banks under the Durbin Amendment.

The acquisition marks a significant step in Chime's strategy to build a full-stack banking operation. The company went public earlier in 2026 and has been expanding its product offerings and customer base.

Chime said it will maintain its existing relationship with The Bancorp Bank, N.A. for the time being while the Stride acquisition is completed.