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PaymentsJournal
Chime agrees to acquire Stride Bank for $590 million
WHAT HAPPENED
PaymentsJournal reports that Chime entered a definitive agreement to acquire Central Service Corporation, the parent of long-time sponsor bank Stride Bank, for USD 590 million in cash. Chime's announcement and SEC filing confirm that Stride would become Chime Bank, N.A., a wholly owned bank subsidiary. The companies expect closing in the first half of 2027, subject to OCC and Federal Reserve approval and other customary conditions.
PUBLISHED September 9, 2026SOURCE PaymentsJournalLANE Payment infrastructure
KEY FIGURES
USD 590 million, subject to customary adjustments
Cash purchase price
first half of 2027, subject to regulatory approval
Expected closing
more than USD 100 million (forecast, not achieved)
Net synergies forecast by Chime
WHAT TO WATCH NEXT
Watch whether follow-up sources disclose where the capital is deployed, product integration, customer migration, and corridor expansion.
Readable PaymentsJournal report checked against Chime's September 8 primary announcement and SEC Form 8-K. The agreement and price are filed facts; closing, regulatory approvals, synergies and integration outcomes remain prospective.
The page already presents the summary and analysis. This section keeps only the copy, download, and technical source record without repeating the same reading view.
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# Chime agrees to acquire Stride Bank for $590 million
> Evidence tier: B1
> Evidence type: Independent payments-trade report checked against Chime's primary announcement and SEC Form 8-K
> Source: [PaymentsJournal](https://www.paymentsjournal.com/chime-could-bypass-bank-charter-process-with-stride-acquisition)
> Published: 2026-09-09
> Captured: 2026-09-10T01:46:02.815Z
## Source summary
PaymentsJournal reports that Chime entered a definitive agreement to acquire Central Service Corporation, the parent of long-time sponsor bank Stride Bank, for USD 590 million in cash. Chime's announcement and SEC filing confirm that Stride would become Chime Bank, N.A., a wholly owned bank subsidiary. The companies expect closing in the first half of 2027, subject to OCC and Federal Reserve approval and other customary conditions.
## Why it matters
Owning Stride would replace part of Chime's sponsor-bank dependency with a bank subsidiary, bring more payment and deposit infrastructure under one group, and make Chime a bank holding company. The transaction has not closed and neither regulator has approved it. The more-than-USD 100 million synergy estimate, immediate EPS-accretion claim and integration benefits are Chime forecasts; no achieved savings, new payment rail, customer migration or operating result exists yet.
## Key numbers
- **Cash purchase price:** USD 590 million, subject to customary adjustments
- **Expected closing:** first half of 2027, subject to regulatory approval
- **Net synergies forecast by Chime:** more than USD 100 million (forecast, not achieved)
## Topics and entities
- Industry lane: Payment infrastructure
- Entities: Chime / Stride Bank
- Payment infrastructure
## Evidence and credibility note
Readable PaymentsJournal report checked against Chime's September 8 primary announcement and SEC Form 8-K. The agreement and price are filed facts; closing, regulatory approvals, synergies and integration outcomes remain prospective.
Date evidence: PaymentsJournal article metadata timestamp 2026-09-09T13:03:42-04:00; Chime's primary announcement and SEC Form 8-K are dated September 8, 2026
## First-party corroboration
- [https://www.chime.com/newsroom/chime-announces-agreement-to-acquire-stride-bank/](/en/items/https://www.chime.com/newsroom/chime-announces-agreement-to-acquire-stride-bank/)
- [https://www.sec.gov/Archives/edgar/data/1795586/000119312526385383/d948605d8k.htm](/en/items/https://www.sec.gov/Archives/edgar/data/1795586/000119312526385383/d948605d8k.htm)
## Original-source traceback
[Open the original PaymentsJournal report](https://www.paymentsjournal.com/chime-could-bypass-bank-charter-process-with-stride-acquisition)
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