Fifth Third Bank

News Release


Fifth Third Bank Names Steven Alonso As Head of Mortgage and Consumer Lending


Fifth Third Bank today named Steven Alonso as executive vice president and head of the Company’s Mortgage and Consumer lending lines of business, reporting to Greg Carmichael, the Bank’s chief operating officer. Alonso joined the Bank effective November 18.

“Steve has a wealth of experience in the mortgage and consumer lending arenas, having served in key executive positions for a variety of organizations,” said Carmichael. “We are excited to have Steve’s experience and background – particularly as it pertains to growth-oriented roles and assignments – to provide additional leadership as we position these businesses for future growth.”

Alonso previously served as founder, chairman and CEO of Oakstreet Mortgage, LLC of Indianapolis. Prior to that he served as president and CEO of Bank One’s Consumer Finance Group – a subsidiary with $20 billion in originations, 1,000 loan officers and 2,000 retail branch distribution points.

At Fifth Third, Alonso will develop strategy for the mortgage, consumer lending, student loan and collections areas and will work with his direct reports to implement that strategy.

“In a large bank like Fifth Third, coordinating efforts of the consumer group are critical to its success,” said Alonso. “I’m looking forward to joining the team and having a positive impact on that success.”

Alonso has a MS in Business Management from the Stevens Institute of Technology and a BS in Mechanical Engineering from Lehigh University.

Fifth Third Bancorp is a diversified financial services company headquartered in Cincinnati, Ohio. The Company has $116 billion in assets, operates 18 affiliates with 1,306 full-service Banking Centers, including 93 Bank Mart® locations open seven days a week inside select grocery stores and 2,332 ATMs in Ohio, Kentucky, Indiana, Michigan, Illinois, Florida, Tennessee, West Virginia, Pennsylvania, Missouri, Georgia and North Carolina. Fifth Third operates five main businesses: Commercial Banking, Branch Banking, Consumer Lending, Investment Advisors and Fifth Third Processing Solutions. Fifth Third is among the largest money managers in the Midwest and, as of September 30, 2008, has $196 billion in assets under care, of which it managed $30 billion for individuals, corporations and not-for-profit organizations. Investor information and press releases can be viewed at Fifth Third’s common stock is traded on the NASDAQ® National Global Select Market under the symbol “FITB.”