"I feel like a weight is lifted off my shoulders by making this announcement," Banks said. "I'm coming back to Mississippi State to continue my development as a player and a person. I've always wanted to play football here and I love the university, my coaches and teammates.
"I would love to play football for as long as I can, and my career goal of becoming a State Highway patrolman following my football career will be helped by getting my degree before I leave."
Banks has 12 career interceptions, tied for sixth nationally among active players and his three interception returns for touchdowns is tied for the national lead. He tied for second in the Southeastern Conference with 14 passes defended this year.
"I'm extremely proud of John for going through this process, gathering all the information and making an informed decision," head coach Dan Mullen said.