Chime agrees to acquire Stride Bank for $590 million in cash
Chime agreed to acquire Stride Bank, N.A. for $590 million in cash. Chime said the transaction is expected to be immediately accretive to EPS and generate more than $100 million in net synergies, with savings driven by sponsor-bank fee reductions, lending-product expansion, and a lower cost of funds. The purchase will be funded with existing cash without an incremental capital contribution.
This is a concrete, newly announced acquisition rather than market-price commentary: Chime agreed to acquire Stride Bank for $590 million in cash, with explicit claims of immediate EPS accretion and more than $100 million in net synergies. Those quantified economics create a material forward-looking M&A catalyst. The Q3 and FY2026 guidance included in the same post is a separate potential development and is intentionally not bundled into this atomic item. The September 8 date is explicit, but the precise 20:05:28 UTC time is estimated from the contemporaneous report, so timestamp confidence is lower than confidence in the core transaction facts. CHYM is the direct stakeholder; TBBK, SOFI, and SQ have the clearest supported exposure through partner-bank economics or direct digital-finance competition, while more distant competitors and Visa are excluded.
The company says the deal is immediately accretive to EPS with over $100M in net synergies, funded from cash on the balance sheet with no incremental capital contribution.
Chime (CHYM) jumps 9% after striking a deal to buy Stride Bank for $590 million in cash, snapping up its longtime partner as the fintech streamlines its operations.
Chime Financial struck a deal to buy Stride Bank for $590 million in cash, snapping up its longtime partner as the fintech streamlines its operations.