Banks, 59, went sailing near his home in Gary, Indiana's Miller neighborhood Wednesday night as violent storms rolled into the area. When he didn't show up for work the following morning his wife filed a missing persons report.
Coast guard officials searched the lake for his body to no avail. But On Saturday morning, a pair of hikers flagged down a National Park Service ranger and pointed out a human body on the beach within the Indiana Dunes National Lakeshore.
An officer with the organization said Banks was wearing a lifejacket when his body was discovered.
An autopsy will be scheduled to determine the exact cause of death.