“De novo branch” defined. “De novo branch” means a branch of a depository institution which:
1. Is newly established by the depository institution as a branch; and
2. Does not become a branch of the depository institution as a result of:
(a) The acquisition by the depository institution of an insured depository institution or a branch of an insured depository institution; or
(b) The conversion, merger or consolidation of any such institution or branch.
Last modified: February 26, 2006