Chime Acquires Stride Bank for $590 Million in Strategic Move
Chime Financial has agreed to acquire its long-time sponsor bank, Stride Bank, for approximately $590 million. The acquisition aims to eliminate ongoing fees paid to third-party banks and bring deposits under Chime's direct control, enabling the company to fund member loans using those deposits instead of relying on a Goldman Sachs warehouse facility. This move is seen as a strategic milestone that could reduce operational costs and increase financial independence for Chime. The deal requires regulatory approval before it can close but has already had an immediate positive impact on investor sentiment: CHYM shares rose 6.93% in the session following the announcement, reaching $34.55 per share as of September 9, 2026. The company also raised its full-year revenue and adjusted EBITDA guidance alongside the news. However, Chime must manage regulatory constraints carefully to maintain profitability from interchange fees on debit card transactions by keeping Stride Bank’s assets below a certain threshold set by Durbin regulations.
Tickers: $CHYM
Topics: acquisitions banking deposits revenue guidance