Banks grew up hunting and fishing in and around the small east Alabama town of Hatchechubbee. For several generations he and his family have been involved in that area in timber, agriculture and cattle operations. With degrees in business and law from Auburn University and The University of Alabama, he spent 32 years representing landowners in their property matters. For over 31 years Banks has owned and operated Homestead Farm, a purebred Black Angus cattle business. During that time he and his family have lived on the farm. He has personally managed and maintained the farm and other real estate for cattle, timber, wildlife and fish production. Having been involved with founding a bank, and serving on its board he has insight helpful in financing land transactions. Banks and his wife, Margo live in Opelika, Alabama and have been married since 1968. They have 5 children (including a daughter-in-law and a son-in-law) and 3 grandchildren.