In this section the following words have the meanings indicated. “Branch” means a deposit–taking office of a banking institution in the State that is open to the public as of December 31 of the calendar year immediately preceding a request for an assessment offset credit. “De novo branch” means a deposit–taking office of a banking institution in the State that was opened to the public for the first time during the calendar year immediately preceding a request for an assessment offset credit that: Was originally established by the banking institution as a branch; but Did not become a branch of the banking institution as a result of: The acquisition by the banking institution of an insured depository institution or a branch of an insured depository institution; or The conversion, merger, or consolidation of an insured depository institution or a branch of an insured depository institution. “Deposits” means deposits originated and housed at a branch located in a low– to moderate–income tract as reported by a banking institution to the Federal Deposit Insurance Corporation each year as of December 31. “Low– to moderate–income tract” means a census tract delineated by the U.S. Bureau of the Census in the most recent decennial census as published by the Federal Financial Institutions Examination Council that corresponds to low– to moderate–income level classifications as defined by the regulation of the Federal Reserve Board implementing the federal Community Reinvestment Act, 12 C.F.R. § 228.12. “Maryland Opportunity Account” means a transaction account offered by a banking institution to customers that meets standards annually determined by the Commissioner that promote fair and equal access to financial services. The Commissioner shall impose annual assessments on each banking institution as provided in this section to cover the expense of regulating banking institutions. Except as provided in paragraph (2) of this subsection, the Commissioner shall assess each banking institution the sum of: $8,000; plus 12 cents for each $1,000 of the assets of the institution over $50,000,000, but not more than $250,000,000; 10 cents for each $1,000 of assets over $250,000,000, but not more than $500,000,000; 9 cents for each $1,000 of assets over $500,000,000, but not more than $1,000,000,000; 8 cents for each $1,000 of assets over $1,000,000,000, but not more than $10,000,000,000; and 7 cents for each $1,000 of assets over $10,000,000,000. If a banking institution is not in the business of accepting deposits or retaining funds in a deposit account as defined in § 5–509 of this title, the Commissioner shall assess the banking institution the sum of: $5,000; plus 3 cents for each $1,000 of managed assets held in a fiduciary capacity up to $5,000,000,000; 2 cents for each $1,000 of managed assets held in a fiduciary capacity over $5,000,000,000, but not more than $20,000,000,000; 1 cent for each $1,000 of managed assets held in a fiduciary capacity over $20,000,000,000 up to $27,500,000,000; 2 cents for each $1,000 of nonmanaged and custodial assets held in a fiduciary capacity up to $5,000,000,000; and 1 cent for each $1,000 of nonmanaged and custodial assets held in a fiduciary capacity over $5,000,000,000 up to $20,000,000,000. The assessments shall be based on assets stated in a banking institution’s most recent financial report. A well–capitalized banking institution with a composite CAMELS rating of 1 or 2 may file with the Commissioner a request for an assessment offset credit of: 12 cents for each $1,000 of deposits in a de novo branch located in a low– to moderate–income tract in the State for the first 5 years after the date the branch opened; or 6 cents for each $1,000 of deposits in a branch located in a low– to moderate–income tract not to exceed the cap set by the Commissioner by December 31 of the calendar year immediately preceding the request for an assessment offset credit. In addition to an assessment offset credit under paragraph (1) of this subsection, a well–capitalized banking institution with a composite CAMELS rating of 1, 2, or 3 may file with the Commissioner a request for an assessment offset credit of: $5,000 on receiving the Commissioner’s initial approval that the banking institution offers at least one Maryland Opportunity Account; and $3,000 for each year thereafter that the banking institution offers at least one Maryland Opportunity Account that, as determined by the Commissioner, remains in active use by the banking institution’s customers. Notwithstanding subsection (c) of this section, for a banking institution with a composite CAMELS rating of 3, 4, or 5 for its most recent examination, the annual assessment imposed under this section shall be increased by an additional 25%. A banking institution shall pay the assessment imposed under this section to the Commissioner on or before the April 15 after it is imposed. The Commissioner may designate a successor index for the low– to moderate–income tract if the Federal Financial Institutions Examination Council tract income level data is no longer published.