In deciding whether to approve an application under § 5-904 of this subtitle, the Commissioner shall consider whether the acquisition: May be detrimental to the safety and soundness of the Maryland bank or Maryland bank holding company to be acquired; or May result in an undue concentration of resources or a substantial reduction of competition in the State. Except as provided in this section, the Commissioner may not approve an acquisition if on consummation of the transaction the applicant, including any insured depository institution affiliate of the applicant, would control 30 percent or more of the total amount of deposits of insured depository institutions in the State. The Commissioner may by regulation adopt a procedure by which the 30 percent deposit limit may be waived for good cause.