Why Is The Bancorp Stock Down 21% Today?
The Bancorp's stock plummeted 21% after fintech client Chime announced its acquisition of Stride Bank for $590 million. Chime plans to bring banking operations in-house post-acquisition in H1 2027, likely reducing its reliance on The Bancorp as a banking partner. This move raises concerns that other fintechs may follow suit and internalize their banking infrastructure.