Chime To Acquire Stride Bank

Chime Financial (CHYM) agreed to acquire Stride Bank for $590 million, reducing reliance on external banks and eliminating sponsor fees. Shares rose 7% to $34.55. The deal requires regulatory approval and aims to keep deposits below Durbin Amendment thresholds to preserve interchange revenue. Chime raised its 2026 revenue and EBITDA guidance.

Chime Financial (CHYM) agreed to acquire Stride Bank for $590 million, aiming to eliminate sponsor fees and bring deposits in-house. The deal sent CHYM shares up 7% to $34.55. Chime must keep Stride below the Durbin asset threshold to protect $430 million in quarterly payments revenue. The transaction requires regulatory approval and is expected to close in the future.

Chime Financial (CHYM) shares rose 6% to $34.28 on Nasdaq after announcing the $590M cash acquisition of Stride Bank. The stock opened at $35.49, reaching a high of $35.55. It has traded between $15.88 and $35.55 over the past year.

Chime Financial (CHYM) reported strong growth, raising guidance due to Chime Prime, lending, and direct deposit relationships. The Stride Bank acquisition is expected to boost innovation, streamline operations, and expand geographically. AI and tech integration will support rapid development and efficiency, according to the company.

Chime, a fintech company, agreed to acquire Stride Bank for $590 million in cash. Shares rose 10% post-announcement. The deal aims to bring banking operations in-house, expand lending, and avoid Dodd-Frank regulations. Chime expects $100M+ in annual synergies. The acquisition needs regulatory approval and is expected to close in 2027. Chime also raised its 2023 revenue guidance to $2.76B-$2.77B.

Chime Financial (CHYM) announced the acquisition of Stride Bank for $590M in cash and raised its outlook. Analysts increased price targets for CHYM stock, which initially surged but later cut gains.