- Distinguished Alumni Service Award (1998)
- Kelley School of Business Distinguished Entrepreneur (1975)
With an IU bachelor’s degree in business, Glenn L. Banks took a position with Dally Lumber in 1950. Seven years later he bought the company, renamed it Banks Lumber Company, and expanded operations into Canada. With its headquarters in Elkhart, the business maintains buying offices in Vancouver and Toronto and branch offices in British Columbia and Ontario. A past president of the North American Wholesale Lumber Company and past director of the Canadian Lumbermen’s Association, Banks currently serves on the boards of Banks Lumber Company and Middlebury Hardwood Products.
His entrepreneurial skills were recognized by the Kelley School of Business when he was the second person to receive the annual Owner-Manager Distinguished Alumnus Award in 1975. His church, community and alma mater also have benefited from his talents and resources. He has served as president of the Trinity United Methodist Church Foundation and on the Methodist’s Northern Indiana Conference Bishop’s Area Advisory Committee. He is a director of the Elkhart General Hospital Foundation, and adviser for the Elkhart Community Foundation.
He has been president, board member, and village foundation member of the Elkhart County Association for the Retarded and director of the Greater Elkhart Chamber of Commerce. Since 1978 he has been a director of the IU Foundation, most recently serving on the managed business and real estate committees. He served on the IU Alumni Association Executive Council and on the board of Governors of the Alpha tau Omega Foundation. Banks is now an honorary director of the IU Foundation.