Michael Scott Bankhead was born on July 31, 1963, in Raleigh, North Carolina.

On December 10, 1986, he was traded by the Royals with Mike Kingery and Steve Shields to the Seattle Mariners for Rick Luecken and Danny Tartabull.

On April 24, 1992, Bankhead picked up his only MLB career save during a marathon 16 inning victory over the Padres.

On September 1, 1994, Bankhead was purchased by the New York Yankees from the Red Sox but never played for them that season because of the strike.

On August 4, 1995, Bankhead signed as a free agent with the Oakland Athletics but never made an appearance for them at the Major League level.