SoFi, more formally known as Social Finance, announced today that it has agreed to acquire Golden Pacific Bancorp (GPB) for about $22.3 million.
The dollar amount is not staggering. What is more notable about the acquisition is that it’s giving SoFi a quick route to getting a national bank charter. SoFi, a digital personal finance company, got preliminary approval for a bank charter last October. By acquiring Golden Pacific, the company gets a fast track into that process. Once the transaction closes later this year, GPB will become a subsidiary of the company.
A national bank charter will give SoFi …
