EXHIBIT 23.2
 
               CONSENT OF ERNST & YOUNG LLP INDEPENDENT AUDITORS
 
   
We consent to the reference to our firm under the caption "Experts" and to the
use of our report dated January 17, 1997, with respect to the financial
statements of Arbor National Commercial Mortgage LLC and subsidiary, in the
Registration Statement (Form S-1 No. 333-56889) and related Prospectus of Arbor
National Holdings, Inc. for the registration of 3,300,000 shares of its common
stock.
    
 
/s/ Ernst & Young LLP
Ernst & Young LLP
 
   
New York, New York
July 23, 1998