Chime Financial Acquires Stride Bank for $590 Million in Move Toward Full Banking Integration
Chime Financial (NASDAQ:CHYM) has agreed to acquire its longtime banking partner, Stride Bank, for $590 million in cash. This acquisition marks a significant step toward Chime's goal of becoming a fully integrated digital bank by bringing key financial infrastructure under direct control. The deal is expected to generate over $100 million in net synergies through reduced fees and expanded lending capabilities. The transaction, pending regulatory approval, is set to close in the first half of 2027. Chime also raised its revenue growth forecast for 2026 from 25-26% to 26-27%, signaling confidence that the acquisition will support near-term financial performance and long-term strategic goals. While analysts view this as a positive move, there are concerns about increased risk exposure. Owning a bank means Chime will take on more balance-sheet risks, including lending losses and regulatory compliance costs. Management has indicated it plans to keep Stride Bank's assets below $10 billion to maintain favorable regulatory treatment.
Tickers: $CHYM