He served one term and appeared re-elected, although that election was successfully contested by future Virginia governor and Confederate General Extra Billy Smith.

[7] He would ultimately resume practicing law, as well as lead the local Virginia Militia for decades, hence his honorific as "colonel".

When the Virginia Constitutional Convention of 1829-1830 instituted single member districts, Banks continued to represent Madison County.

[9] Banks ran as a Democrat and won election to the United States House of Representatives to fill the seat vacated by John M. Patton's resignation in 1838.

He was interred in the family cemetery on his estate called "Vale Evergreen" near Graves Mill, Virginia.