Chime to Acquire Stride Bank for $590 Million in Cash

SAN FRANCISCO, USA - Chime (NASDAQ: CHYM) has entered into a definitive agreement to acquire Stride Bank, N.A. for $590 million in cash. The transaction marks a major milestone in Chime's evolution, integrating its digital core with Stride's national bank infrastructure to create a vertically integrated, end-to-end platform built for the AI era.

Upon closing, which is expected in the first half of 2027, Stride will operate as a wholly owned subsidiary named Chime Bank, N.A. The acquisition is projected to be immediately accretive to Chime's earnings per share and deliver more than $100 million in net synergies through sponsor bank fee savings, expanded lending, and lower funding costs.

Transaction Details

• Purchase Price: $590 million in cash, representing approximately 1.5x tangible book value.
• Expected Closing: First half of 2027, subject to regulatory approvals.
• Advisors: Morgan Stanley & Co. LLC acts as exclusive financial advisor and Wachtell, Lipton, Rosen & Katz as legal counsel to Chime. Piper Sandler & Co. and McAfee & Taft advise Stride.