[2] It was named after William Banks, a well-known Indiana attorney.

It contains the communities of Flora, Horton (previously Smithport), Johnsonburg, Keal Run, Lochvale, Madeline, Raytown, Smithville, and Urey.

[4] Hemlock Lake is located in the east, and State Game Lands Number 174 is in the extreme northeast.

As of the 2000 census,[7] there were 997 people, 368 households, and 274 families residing in the township.

21.5% of all households were made up of individuals, and 13.0% had someone living alone who was 65 years of age or older.