EXHIBIT 23.1
 
                        CONSENT OF INDEPENDENT AUDITORS
 
The Board of Directors
RedFed Bancorp Inc.
 
  We consent to the use of our report included herein and to the reference to
our firm under the heading "Experts" in the prospectus.
 
                                          /s/ KPMG Peat Marwick LLP
 
Orange County, California
   
August 8, 1996