Why Is The Bancorp Stock Down 21% Today?
The Bancorp's shares fell nearly 21% on Wednesday after fintech client Chime agreed to acquire its other banking partner, Stride Bank, for $590 million. Chime plans to consolidate its banking operations at Stride once the deal closes in the first half of 2027.
Why it matters — The Stride acquisition signals that Chime may shift banking business away from The Bancorp, a move that could reduce a major revenue source for TBBK.