EXHIBIT 23.0




The Board of Directors
RedFed Bancorp Inc.:

          We consent to incorporation by reference in the registration
statements (No. 33-86846, 33-86848, and 333-4580) on Forms S-8 of RedFed Bancorp
Inc. of our report dated January 29, 1997, relating to the consolidated
statements of financial condition of RedFed Bancorp Inc. and subsidiaries as of
December 31, 1996, and 1995, and the related consolidated statements of
operations, stockholders' equity and cash flows for each of the years in the
three-year period ended December 31, 1996, which report appears in the December
31, 1996, annual report on Form 10-K of RedFed Bancorp Inc.



KPMG Peat Marwick LLP

Orange County, California
March 28, 1997