Chime Financial, Inc. announced on September 8, 2026, that it has entered into a definitive agreement to acquire Central Service Corporation (CSC), the parent company of Stride Bank, N.A. The transaction is valued at $590 million in cash, subject to customary purchase price adjustments.
Under the terms of the Agreement and Plan of Merger, Chime will acquire CSC through its subsidiary, Clocktower Merger Sub, Inc. Upon closing, CSC will merge into Merger Sub and continue as the surviving corporation. The transaction is expected to close in the first half of 2027, subject to regulatory approvals from the Office of the Comptroller of the Currency and the Board of Governors of the Federal Reserve System, as well as other customary closing conditions.
Stride Bank, founded in 1913, is a nationally chartered bank that has served as Chime’s banking partner for more than seven years. Following the merger, Stride will operate as a wholly owned subsidiary of Chime, to be renamed Chime Bank, N.A. The acquisition is intended to provide Chime with a vertically integrated platform, allowing for faster product innovation and a stronger structural cost advantage by eliminating partner-bank fees and reducing funding costs.
Chime expects the transaction to be immediately accretive to earnings per share and anticipates realizing more than $100 million in net synergies. The company stated it plans to fund the purchase using cash on its balance sheet, with no incremental capital contribution anticipated.
Chime also updated its financial guidance for the third quarter and full year of 2026. For the third quarter, the company expects revenue of $705 million, representing year-over-year growth of approximately 30%, and adjusted EBITDA of $117 million to $120 million. For the full year, Chime projects revenue of $2.76 billion to $2.77 billion, representing year-over-year growth of approximately 26% to 27%, with adjusted EBITDA of $481 million to $489 million.
