Banks is 6'2" (188 cm) tall and 200 lb (90 kg). He played in college for the University of Nevada, Las Vegas (UNLV), where he was Co-Defensive Player of the Year as a senior. He was selected with the thirteenth pick in the first round of the 2003 NBA Draft by the Memphis Grizzlies, then traded to the Boston Celtics along with Kendrick Perkins.