AcquisitionSep 8, 2026Pending
🇺🇸 United States
SBStride Bank, N.A.CChime
Financial Institutions › Banks
Equity value$590MEquity value
AnnouncedSep 8, 2026
ConsiderationCash
StructureOne-step merger
RegionNorth America
Cross-borderNo
Contingent paymentNo
Overview
Chime agreed to acquire Stride Bank, N.A., its long-time bank partner, for $590 million in cash, with the purchase price subject to certain adjustments set forth in the definitive agreement. Under the agreement, Chime agreed to acquire Central Service Corporation, the parent holding company of Stride.
Deal rationale
Chime expects owning rather than partnering with its bank to deliver full-stack ownership, eliminate partner-bank fees, lower its cost of funds and speed product innovation.
AI-generated from the SEC filingPendingFinancial Institutions › BanksUnited StatesNorth America
Timeline
Valuation and terms
| Equity value | $590M | Headline figure |
|---|---|---|
| Enterprise value | Undisclosed | |
| Consideration | Cash |
Advisors
Buy-side
MSMorgan Stanley
Sell-side
PSPiper Sandler
Parties
Target
SBStride Bank, N.A.
- Headquarters
- United States
- Ticker
- —
Acquirer
CChime
- Headquarters
- United States
- Ticker
- —