fort banks in winthrop, massachusetts, built in the late 1890s, was named for him. a statue of him stands in waltham's central square, and banks street in new orleans is named after him, as is banks court in chicago's gold coast neighborhood. the incorporated village of banks, michigan was named for him in 1871. the gale-banks house, his home in waltham from 1855 to his death, is listed on the national register of historic places.