(a) Except as provided in subsection (b) of this section, a banking institution that proposes to establish a branch in this State or in another state shall:

(1) File with the Commissioner, at least 30 days before the intended opening date, a notice of intention to open a branch; and

(2) Submit to the Commissioner any information the Commissioner requires in order to evaluate the proposed branch.

(b) A well-capitalized banking institution with a composite CAMELS rating of one or two may establish a branch in this State by filing with the Commissioner an expedited notice, in the form that the Commissioner requires, at least 30 days before the intended opening date.