EXHIBIT 23.1

                          INDEPENDENT AUDITORS' CONSENT

         We consent to the incorporation by reference in this Registration 
Statement of Reliance Bancorp, Inc. on Form S-4 of our report dated July 24, 
1997, incorporated by reference in the Annual Report on Form 10-K of Reliance 
Bancorp, Inc. for the year ended June 30, 1997 and to the reference to our 
firm the heading "Experts" in the Prospectus, which is part of this 
Registration Statement.

/s/ KPMG PEAT MARWICK LLP
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Melville, New York
September 24, 1998




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