Before the Commissioner issues a certificate to do business, a savings bank shall have an initial guaranty fund that equals at least: The minimum amount of capital stock required for formation of a commercial bank in the municipal area of the proposed savings bank; and Any greater amount that the Commissioner determines is necessary to keep the savings bank solvent. Before a savings bank establishes a branch, the savings bank shall have a guaranty fund as provided in this subsection. For a branch that is to be located inside the municipal area of the principal banking office of the savings bank, the savings bank shall have a guaranty fund of not less than 5 percent of its total deposits. For a branch that is to be located outside the municipal area of the principal banking office of the savings bank, the savings bank shall have a guaranty fund of not less than the sum of: 5 percent of its total deposits; and The minimum capital and surplus that is required for formation of a commercial bank in the municipal area of the proposed branch.