Chime’s decision to purchase the 111-year-old Stride Bank marks the culmination of a seven-year partnership between the two firms. By integrating Stride’s nationally chartered status, Chime expects to generate over $100 million in net synergies, with the deal slated to close in the first half of 2027. Following the news, Chime shares surged nearly 10% in extended trading.

Management plans to keep the bank’s assets below $10 billion for the foreseeable future while managing the balance sheet internally. Alongside the acquisition announcement, the company raised its full-year revenue growth forecast to a range of 26% to 27%. Morgan Stanley is advising Chime on the transaction, with Piper Sandler & Co representing Stride.