Born at Travis Air Force Base, California, he grew up in San Diego County and went to Oceanside High School.

On June 16, 1985 he set a world record of 17.97 m (58 feet 11.5 inches) at the national championships in Indianapolis, Indiana, USA.

He is the originator of the now common hand clapping that takes place during many track and field events,[4] and which he first did at DN-galan in 1981.

Banks was inducted into the USA National Track & Field Hall of Fame in 1999 and was still competing at an advanced age.

On September 22, 2012, Banks became the oldest American to clear 6 feet in the high jump at the age of 56 using just a 3-step approach and the classic "roll" technique.

[11] Banks was on a panel on an ESPN "Outside the Lines" episode regarding athlete involvement in social issues, dated May 18, 2008.