Chime has agreed to acquire nationally chartered Stride Bank for $590 million in cash, gaining a bank charter through a partner it has worked with for more than seven years; Stride will be renamed Chime Bank, N.A. and operate as a wholly owned subsidiary once the deal closes in the first half of 2027, pending OCC and Federal Reserve approval. The main objective is to give this banktech company a faster, more proven path to full-stack banking than pursuing a de novo charter, bringing lending and balance-sheet management in-house while keeping assets below $10 billion to remain Durbin-exempt from debit-card fee caps; Chime estimates the deal will generate over $100 million in net synergies from lower sponsor-bank fees and cheaper funding. Chime also raised its third-quarter and full-year revenue guidance alongside the announcement. Key players include Chime, whose shares jumped 10% on the news, and Enid, Oklahoma-based Stride Bank, founded in 1913, with Morgan Stanley advising Chime and Piper Sandler advising Stride. 

Chime Shares Jump 10% as $590M Stride Deal Puts Fintech on Path to Bank Charter