ORS 714.064

A branch shall commence business within one year after the banking institution files notice with the Director of the Department of Consumer and Business Services under ORS 714.025. The director may extend for one additional year the period within which the banking institution may establish the branch. If a branch fails to commence business within the year or any extension of time the director grants, the director shall deem the banking institution to have withdrawn the notice and the branch may not open or operate.