‘De novo branch’ means a branch of a depository institution which:

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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.