Chime agrees to acquire Stride Bank’s parent for $590 million

Chime ($CHYM) signed an agreement to acquire Central Service Corporation, the parent of Stride Bank, for $590 million, subject to contractual price adjustments. Both boards unanimously approved the transaction. The acquisition has not closed and still requires regulatory approvals, including from the Federal Reserve and the US Office of the Comptroller of the Currency.

Sources:

• Chime — transaction terms and closing conditions, SEC Form 8-K