Exhibit 23.4
                        Consent of Carruthers & Company



Carruthers & Company
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Providing Financial and Intellectual Capital






                                                              September 10, 1997


Board of Directors
Federal Trust Corporation
1211 Orange Avenue
Winter Park, Florida 32789

Gentlemen:

         We hereby  consent to the  references to this firm in the  Registration
Statement  on Form  S-1  Amendment  No.1  filed  by  Federal  Trust  Corporation
("Company"),  and all amendments thereto regarding the issuance and registration
of shares of common stock by the Company.

                                         Sincerely,

                                         /s/Alan P. Carruthers
                                            Alan P. Carruthers
                                            President