Last week, the stock market of SoFi Technologies abruptly soared on the news that regulators approved its bank acquisition. Firstly, SoFi will be able to complete its previously announced acquisition of Golden Pacific Bancorp and become a bank holding company. When the merger with Golden Pacific will be completed in February, SoFi aims to invest $750 million in the bank, bringing its total assets to $5.3 billion. However, according to today’s, the stock price on a negative tends to decline 7% to $13.89.
SoFi National Bank has the opportunity to reduce interest costs in the future, which companies will become one of the main advantages of the banking charter. If you look at it this way, the company pays interest on this financing by almost 4% and 1.6%. Also, in the next quarter, SoFi Technologies should offer a decent source of financing, while at the end of the third quarter of 2021, it exceeded about $1.16 million. In conclusion, it is also another signal to investors that SoFi is a reliable lender.