Chime Surges on $590M Stride Bank Acquisition

Chime Financial Inc.'s shares surged after hours following its announcement to acquire Stride Bank for $590 million in cash. This deal will give Chime direct control of a national bank charter, strengthening its banking infrastructure and allowing it to remove partner fees, reduce funding costs, and improve unit economics.

The acquisition is expected to increase earnings per share immediately after the transaction closes and deliver more than $100 million in net synergies from fee savings, lending growth, and cheaper funding. Chime values Stride at about 1.5 times tangible book value and will use existing cash for the purchase.

Chime's CEO has stated that this deal will support lending growth through lower funding costs and integrated underwriting, while preserving its consumer-focused operating strategy. The company also raised its full-year 2026 revenue guidance to as much as $2.77 billion, representing annual growth of about 26% to 27%. Adjusted EBITDA is expected to reach $481 million to $489 million.