Chime Announces Agreement to Acquire Stride Bank (Form 8-K)

Chime Announces Agreement to Acquire Stride Bank

Advances Chime's vision to become the leading consumer technology company built to bank mainstream America

Bank subsidiary to add foundational piece to Chime's vertically integrated platform

Expected to be immediately accretive to Chime's EPS, with more than $100 million in net synergies

SAN FRANCISCO, Sep. 8, 2026 - Chime^® (NASDAQ: CHYM), America's #1 choice for banking¹, today announced that it has entered into a definitive agreement to acquire Stride Bank, N.A. ("Stride") for $590 million in cash.² Stride is a nationally chartered bank that has been Chime's bank partner for more than seven years. Upon closing, Stride will become Chime Bank, N.A. and operate as a wholly owned subsidiary of Chime.

The transaction marks an important milestone in Chime's evolution from industry challenger to category leader. Chime's technology-driven, payments-led model has reshaped the industry and now helps more than 10 million Active Members³ make financial progress. The combination of Chime's digital core, trusted brand, and primary account relationships with Stride's national charter and bank infrastructure will create an end-to-end platform built for the AI era. This will strengthen key competitive advantages that have driven Chime's industry-leading growth:

"We founded Chime because mainstream America deserved better banking," said Chris Britt, CEO and Co-founder of Chime. "Our member-aligned, technology-driven strategy will remain the same. This acquisition will make our proven model even stronger. By combining Chime's leading brand and deep member relationships with Stride's national charter and team, we will accelerate toward our vision to be the largest provider of primary bank accounts in America."

A Proven Partnership

Founded in 1913 and headquartered in Enid, Oklahoma, Stride is a bank with deep community roots and a long track record of serving consumers, businesses, and fintech partners. Its experienced leadership, strong operations, and established banking, risk and compliance capabilities have made Stride a trusted Chime partner. Chime member accounts are already a significant contributor to Stride's deposits, reflecting the scale and strength of the companies' relationship. The close working relationship and established processes between the companies will ensure a smooth transition for Chime and Stride's customers.

"Stride has spent more than a century serving customers and strengthening communities," said Brud Baker, Chairman and CEO of Stride Bank. "For seven years, we have seen firsthand how Chime puts members first and how seriously it takes its mission. That gives us real confidence in this combination and the future we can build together. Stride's national bank charter and experienced team will be central to what comes next. I look forward to continuing to lead Chime Bank, creating new opportunities for our customers, communities, and employees."

The acquisition of Stride Bank provides Chime with a faster and more proven path to full-stack ownership versus pursuing a de novo bank charter.

Chime and Stride share a longstanding commitment to the people and communities they serve. Chime has put that into action by pledging 1% of its equity to the Chime Scholars Foundation, which has already provided nearly $10 million in post secondary scholarships to approximately 1,500 scholars over the past five years. Following the acquisition, the combined organization will look to create new opportunities to deepen its impact nationwide.

Financially Compelling from Day One

Chime's core mission, strategy, and business model will remain the same - payments-led and asset-light. Owning rather than partnering will give the company greater speed, control, and stronger economics. It will also allow Chime to more efficiently expand its fast-growing lending business powered by disciplined underwriting.

The transaction is expected to be accretive to earnings per share immediately upon closing, with further upside over time. Chime expects to realize more than $100 million in net synergies, driven by sponsor bank fee savings, expansion of lending products, and a significantly lower cost of funds.

The transaction value represents approximately 1.5x tangible book value for Stride, a profitable and well-capitalized bank. Chime is profitable and expects to fund the purchase from cash on its balance sheet, with no incremental capital contribution anticipated.

Following the closing, Chime expects to consolidate its banking activities at Stride, which will focus primarily on supporting Chime's consumer business. Chime will manage its balance sheet and keep its assets below $10 billion for the foreseeable future.

Raising Third-Quarter and Full-Year 2026 Guidance⁴

For the third quarter, Chime now expects revenue of $705 million, representing year-over-year growth of approximately 30%, and adjusted EBITDA of $117 to $120 million, a margin of roughly 17%.

For the full year, Chime now expects revenue of $2.76 to $2.77 billion, representing year-over-year growth of approximately 26% to 27%, and adjusted EBITDA of $481 to $489 million, a margin of 17% to 18%.

Transaction Details

The transaction is expected to close in the first half of 2027, subject to approvals by the Office of the Comptroller of the Currency and the Board of Governors of the Federal Reserve System, and the satisfaction of other customary closing conditions.

The boards of directors of both companies have unanimously approved the transaction.

Advisors

Morgan Stanley & Co. LLC is serving as exclusive financial advisor to Chime in connection with the transaction, and Wachtell, Lipton, Rosen & Katz is serving as legal counsel to Chime. Additionally, Piper Sandler & Co. is serving as financial advisor to Stride, and McAfee & Taft is serving as legal counsel to Stride in connection with the transaction.

About Chime

Chime (Nasdaq: CHYM) is a financial technology company founded on the premise that core banking services should be helpful, easy, and free. We offer a broad range of low-cost banking and payments products that address the most critical financial needs of everyday people. Our member-aligned business model has helped millions of people to unlock financial progress^TM. Member deposits are FDIC-insured through The Bancorp Bank, N.A. or Stride Bank, N.A., Members FDIC, up to applicable limits^*.

About Stride Bank, N.A.

Founded in 1913, Stride Bank, N.A. has built a steadfast legacy of trust and stability, with over a century dedicated to community banking excellence. Our branch network includes physical locations in Oklahoma and Salt Lake City, where we offer a comprehensive range of financial products and services including consumer and commercial banking, treasury management, mortgage lending, and wealth management. We have a proud history of innovation and are recognized as an industry leader for pioneering sophisticated payment and lending solutions for prominent national brands. We are committed to staying true to our roots while also adapting to meet the evolving needs of our customers. Member FDIC. Equal Housing Lender. Discover more at www.stridebank.com.