EXHIBIT 23
 
                        CONSENT OF INDEPENDENT AUDITORS
 











                                      [LETTERHEAD]

                            INDEPENDENT AUDITORS' CONSENT



We consent to incorporation by reference in the Registration Statements 
(Numbers 33-31845 and 33-59832) on Form S-8 of Maryland Federal Bancorp, Inc. 
of our report dated April 7, 1997, relating to the consolidated statements of 
financial condition of Maryland Federal Bancorp, Inc. and Subsidiary as of 
February 28, 1997 and February 29, 1996, and the related consolidated 
statements of income, stockholders' equity and cash flows for each of the 
years in the three-year period ended February 28, 1997, which report appears 
in the February 28, 1997 annual report on Form 10-K of Maryland Federal 
Bancorp, Inc.


/s/ Stoy, Malone & Company, P.C.


Bethesda, Maryland
May 22, 1997