Chime Moves to Buy Stride Bank for $590 Million
Chime, a prominent US mobile financial services provider, revealed on September 8, 2026, that it has entered into a definitive cash acquisition agreement with Stride Bank for $590 million. Oklahoma-based Stride Bank is a nationally chartered banking partner that has worked with Chime over the past seven years. Upon closing, Stride Bank will be rebranded as Chime Bank and fully integrated as a subsidiary.
Expected Synergies Exceed $100 Million, Profitability Outlook Improved
Chime projects the deal to generate more than $100 million in net synergies, driven primarily by reductions in bank sponsorship fees, expansion of loan offerings, and significant cost savings on funding. The company anticipates the acquisition will be immediately accretive to earnings per share. The transaction still requires regulatory approval and customary closing conditions, with both boards unanimously endorsing the deal and an expected closing targeted for the first half of 2027.
Revised Earnings Guidance for Q3 and Full Year 2026
Alongside the acquisition announcement, Chime raised its financial guidance for Q3 and the full year 2026. Third-quarter revenue estimates increased from $680 million–$690 million to approximately $705 million, marking around 30% year-over-year growth. Adjusted EBITDA guidance was also lifted from a previous range of $105 million–$110 million to $117 million–$120 million.
For the full year, revenue is now projected to grow 26%–27% to a revised range of $2.76 billion–$2.77 billion, above the earlier forecast of $2.725 billion–$2.745 billion. Adjusted EBITDA expectations were similarly raised from $465 million–$475 million to $481 million–$489 million.
Plans to Keep Assets Under $10 Billion Post-Acquisition
Chime stated it will consolidate its banking operations within Stride Bank, focusing on supporting its consumer-facing business. The company intends to maintain total assets below $10 billion in the foreseeable future, emphasizing prudent asset and liability management.
Market Response: Initial Rally Fades Amid Integration Concerns
The acquisition news sparked a notable early surge in Chime's stock price, reflecting investor optimism about the plan to expand its banking footprint. However, the share price later retraced some gains, illustrating lingering market caution regarding potential integration challenges and the realization of anticipated benefits. Analysts' upward revisions to price targets reflect acknowledgment of Chime’s growth prospects, while maintaining a cautious stance toward successful deal execution.
This transaction and accompanying guidance updates underscore Chime’s strategic push to scale its in-house banking capabilities, aiming to strengthen cost efficiencies and diversify product offerings within an increasingly competitive digital finance landscape. Regulatory approval progress and integration efforts will remain focal points for investors and market watchers in the coming months.