Banks Lake is part of a larger blackwater lake system known as Banks Lake National Wildlife Refuge. The refuge, established in 1985, contains a variety of different habitats including, marsh, swamp, upland and open water. The lake is part of an ancient sink that has great geological implications.It is also home to a number of migratory birds, making it a great place to do some birdwatching too. There are restrooms, fishing docks, and hiking trails nearby for further enjoyment of the area.