Tanner Banks – Philadelphia Phillies Biography, Contract, Net Worth Information

Tanner Banks has quietly become a solid left-handed pitcher for the Philadelphia Phillies. Born on October 24, 1991, in Riverton, Utah, the 33-year-old brings some much-needed reliability to the Phillies bullpen after starting his major league career with the Chicago White Sox.

Tanner Banks currently makes $785,500 on a one-year contract with the Phillies and has a net worth estimated at $991,572 from his pro baseball career.

Banks didn’t have a straightforward path to the majors. The White Sox drafted him, and he climbed through their farm system before getting his MLB debut. The southpaw has shown his value, and now with Philadelphia, he keeps refining his pitching.

He’s married to Chandler and has two sons, Pierce and Beckham.

Banks’ left-handed delivery stands out and creates tough matchups for hitters. He isn’t among the league’s highest-paid, but his contract with the Phillies is a smart investment for a dependable bullpen arm.

His career path really shows what persistence in baseball looks like.

Early Life and Education

Tanner Pierce Banks was born on October 24, 1991, in Riverton, Utah. His upbringing and education shaped his journey to becoming a pro pitcher.

Family Background

Banks grew up in Riverton, a suburb in Salt Lake County, Utah. Records show his family supported his athletic dreams from an early age.

Riverton has a reputation for strong community sports, which probably helped him develop his baseball skills. Even though Banks keeps his personal life mostly private, his Utah roots still mean a lot to him.

The values he picked up in Riverton seem to have influenced his approach and work ethic on the field.

Academic Journey

Banks went through the local schools in Riverton before heading off to college. He attended Salt Lake Community College, where he stood out as a baseball player while keeping up with his studies.

After that, Banks transferred to the University of Utah. This move gave him both a stronger academic background and a shot at tougher baseball competition.

His college play impressed enough scouts that he got drafted in the 18th round, 528th overall, by the Chicago White Sox in 2014. That marked his jump from college to pro ball.

Professional Baseball Career

Tanner Banks has worked his way through different levels of pro baseball to reach the majors. He spent several years in the minors before finally making his MLB debut at age 30 with the Chicago White Sox.

He later joined the Philadelphia Phillies.

Amateur and Minor League Experience

Banks began his pro journey when the White Sox selected his contract from the minors. Growing up in Riverton, he developed his pitching early on and kept at it through the amateur ranks.

He spent plenty of time in the minors, grinding through the system. Not many people considered him a top prospect, but he kept working.

Banks kept getting better, improving his control and adding pitches. His time in Triple-A Charlotte eventually put him in the running for a big league spot.

Major League Debut and Teams

Banks finally reached the majors when he debuted at age 30-plus with the White Sox. That made him the first White Sox player to debut at that age.

After his stint with the White Sox, Banks moved to the Philadelphia Phillies. He’s a lefty reliever who gives the bullpen some depth and can face both right and left-handed hitters.

He mostly pitches in relief, and managers like having his left-handed delivery for late-game matchups. Banks throws left-handed but bats right, which is a bit unusual in pro baseball.

Notable Achievements and Career Highlights

Banks doesn’t have a shelf full of awards, but his biggest achievement is sticking with it and reaching the majors after years in the minors. Debuting at 30 is no small feat.

He signed a one-year, $785,500 contract with the Phillies, which is fully guaranteed and marks a big step up from his earlier paychecks.

His stats might not jump off the page, but he’s proven to be a reliable option. Managers know they can call on him in different situations.

Contract Details and Career Earnings

Tanner Banks has built up a modest but steady financial base through his baseball career. His contract history shows how he’s slowly increased his value while keeping his finances in order.

Contract History and Terms

Banks currently makes $720,000 per year with the Phillies. There’s no signing bonus, which is pretty standard at his level.

As of January 2025, he’s logged 2.092 years of service time, so he’s still in pre-arbitration. That means the Phillies control his contract terms until he’s eligible for arbitration.

Banks started with the White Sox, who selected his contract from the Charlotte Knights. His first contract was near the league minimum, but his earnings have grown steadily since then.

Salary Progression

Banks’ earnings have followed the usual path for a reliever working through MLB’s system. His current net worth is $991,572, which reflects what he’s made so far.

Several factors have influenced his salary:

• Minor league deals with little guaranteed money
• League minimum salary early on
• Small raises during pre-arbitration
• Performance bonuses for appearances and stats

Players like Banks have to think more about financial planning as their careers develop. With arbitration on the horizon, he’ll have to decide between a long-term deal or sticking with year-to-year contracts, which could affect his insurance and future debts.

Tanner Banks Net Worth and Financial Overview

Tanner Banks has built his net worth mostly from his baseball contracts. He made his MLB debut later than most, so his wealth reflects that journey.

Sources of Wealth

Banks’ main source of wealth is his baseball salary and contracts. In 2025, he earns about $785,500 with the Phillies, up from his previous $720,000.

His current deal is a one-year contract with $785,500 guaranteed. Since his MLB debut with the White Sox in 2022, his earnings have climbed each year.

Banks’ estimated net worth sits just under $1 million, at $991,572. By pro athlete standards, that’s not huge, but it makes sense given his late start in the majors.

Endorsements and Business Ventures

Banks hasn’t really chased big endorsement deals. His commercial profile is pretty low compared to MLB’s superstars, which fits his role as a reliever rather than a household name.

He hasn’t gone public with any major business ventures outside baseball. For now, he seems focused on his playing career rather than entrepreneurship.

His approach is pretty common for players who make it to the majors later—they tend to prioritize earning on the field over building a brand.

Asset Management and Investments

Banks seems to take a conservative approach to investing, which is wise given how short pro sports careers can be. While he keeps the details private, most players in his shoes work with financial advisors who know the ins and outs of athlete finances.

A lot of MLB players invest in real estate or low-risk options. Banks likely uses specialized wealth management services that cater to athletes’ unique income streams.

He probably plans carefully, knowing how unpredictable a pitcher’s career can be. With contracts in the mid-six figures—not the mega-deals some players get—he has to be smart about long-term financial security.