The division was created in 1949 and is named for Sir Joseph Banks, the British naturalist and botanist who accompanied James Cook on his voyage to Australia in 1770.

Up until 2013, it was held since its creation by the Australian Labor Party, but has grown increasingly marginal from the 1990s onward.

It was almost lost in 2004, but the 2006 redistribution added areas to the west in Bankstown and Condell Park which strengthened the seat for Labor.

Coleman became the first non-Labor member for the seat, breaking a 64-year tradition.

[1] The division includes the suburbs of Allawah, East Hills, Hurstville Grove, Lugarno, Mortdale, Oatley, Padstow, Padstow Heights, Panania, Peakhurst, Peakhurst Heights, Picnic Point, Revesby Heights, and South Hurstville; and parts of Bankstown, Bankstown Aerodrome, Beverly Hills, Blakehurst, Carlton, Condell Park, Connells Point, Hurstville, Milperra, Narwee, Penshurst, Revesby, and Riverwood.