Ronnie Glavin is the current favourite to take over from caretaker manager Glyn Hodges and was sat with Barnsley owner Peter Doyle during Saturday's defeat at the hands of Northampton. Banks played alongside Glavin in the promotion winning Barnsley side of the early 1980s.
Hodges, meanwhile, has reiterated his desire for his job to be made permanent. He told the official website "I can improve this football club and I have players ready who will improve it. I have to get the go-ahead to do that but it has not dampened me at all".