Banks received his bachelor"s degree in English Literature from Duke University in 1949 and his Master of Divinity degree from Emory University in 1952. He received his Doctor of Philosophy in psychology and religion from the University of Chicago in 1971.
In his early career, Banks held faculty and administrative positions at Drew University and the University of Florida. In 1975, he was named president of Dickinson College, a position he held until 1986, when he became president of the University of Richmond. Banks spent only eight months at Richmond before resigning due to health reasons.
He then took faculty and administrative positions at Eckerd College, where he remained until his retirement in 1995.
