EXHIBIT 23

                         CONSENT OF INDPENDENT AUDITORS








                         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 10, 1998. relating to the consolidated statements of
financial condition of Maryland Federal Bancorp, Inc. and Subsidiary as of
February 28, 1998 and 1997, 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, 1998, which report appears in the February 28, 1998
annual report on Form 10-K of Maryland Federal Bancorp, Inc.


STOY, MALONE & COMPANY, P.C.
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/s/ Stoy, Malone, & Company, P.C.
Bethesda, Maryland
May 27, 1998