Banks Was Rising to the Top When She Disappeared. Here’s Why (2024)

In the artwork for the single “Gimme,” Banks’ first solo release since 2017, the synth-pop singer gazes into the distance as she clutches her bare breast, which is just out of frame. The provocative image, which inspired the cheeky #tit*OutForBanks Twitter campaign among her dedicated fans, mirrors the directness of the song: “You can call me that bitch,” growls Banks in the first verse. The artwork was a move she now calls “a little bit risky.” But after being out of the spotlight for two years —during which the dark, alt-pop aesthetic that she, Lorde and Halsey helped popularize exploded even further into the mainstream through the likes of Billie Eilish —a risk was exactly what Banks, 30, needed to take. The new single, she says from her Los Angeles home in the hills, “slaps you in the face. It’s a part of my personality that is fearless —I wanted to come back with that.”

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Born Jillian Rose Banks, the Orange County, Calif., native started writing songs at 15, though it wasn’t until she had graduated from the University of Southern California with a degree in psychology that she started posting tracks on SoundCloud, including “Before I Ever Met You,” which she uploaded in February 2013. With the help of DJ Yung Skeeter, who connected with Banks in college and offered to manage her, the song made its way to Zane Lowe, then at BBC Radio1. The following month, Banks landed a record deal with London-based label Good Years Recordings, and six months later she signed stateside with Harvest Records. Her 2014 debut full-length,Goddess, hit No.12 on theBillboard200, led by the electro-pop single “Beggin for Thread,” which peaked at No.11 on theAlternativechart. The album’s 2016 follow-up,TheAltar, also entered the Billboard200’s top20. She has since garnered 513million on-demand streams in the United States, according to Nielsen Music; landed synchs on shows likeGirlsandPower; collaborated with6LACK; and, on her last tour, booked 3,000-capacity venues.

But years of nonstop promoting and touring left her feeling rootless, and Banks was ready for a timeout. Since graduating in 2010, she had put all her time and energy into getting her career off the ground. And once it did, maintaining a rapid-fire pace was a necessity. But as a result, Banks never had the chance to process her trajectory. As she approached 30, she realized she needed to carve out time for herself. “It was very necessary,” she says of her break. “I never really had time to digest how much my life had changed. I needed to rediscover how to live in one place, reestablish a nesting place and be a little more grounded. I purposely told my management, ‘I don’t want to leave for at least a year.’”

She didn’t. Free from touring, she wrote nonstop; the results make up her third album,III, out in July on Harvest. Hunkering down in L.A.’s Westlake Recording Studios, she gathered an intimate circle of collaborators, including Buddy Ross (Frank Ocean’s music director), BJBurton (Bon Iver,) andHudson Mohawke(Kanye West,Drake). And though she says she’s usually possessive of lyrics and melodies, she opened the door to songwriters she had never worked with before: Trey Campbell (Ella Mai,Bebe Rexha) andKevin Garrett(Beyoncé). She kept things tightknit outside the studio as well, working for the first time entirely in-house with Capitol Music Group.

Banks Was Rising to the Top When She Disappeared. Here’s Why (4)

Starting with the bite of lead single “Gimme,” the songs onIIIare more fiery than ever, with lyrics about desire and pain sung over driving bass. Banks nearly named the albumEros, after the Greek god of love —which would have fallen in line with her other divinely inspired album titles —but felt the word wasn’t strong enough to encompass the breadth of what she had written about. Her new album, she says, covers a richer chapter in her life, and the number three, with its definitive simplicity, more effectively conveys a beginning, middle and end. “I was going through a major growth spurt when I made this album,” she says, including moving on from a breakup. She now describes herself as a “wise woman” instead of a “naive girl.” Rather than giving in to bitter or jaded lyrics, she tapped into the early assurance heard on theAltartrack “f*ck With Myself” and her 2017 one-off “Underdog.” OnIII’s closing track, she replaces her lost love with a new one: Her 4-year-old niece’s voice saying “I love you” fills the album’s last few seconds.

On Banks’ last tour she introduced movement into her sets, which featured elaborate goth-inspired costumes and veiled backup dancers. When it comes time to hit the road again, she promises her delivery will be even “bigger and better” than before —largely because, she says, she kept in mind how new songs would translate live while making them in the studio.

But until then, she’s entirely content to stay put in her “quiet little retreat” of a home a while longer. She’s far removed from the always-on-the-go Banks who in 2013 was eager to jump-start her career, and she couldn’t be happier about it. “I’m in a very peaceful place,” she says now. “What a relief.”

BEHIND THE GLASS
This trio of producers and engineers helped Banks’ new album across the finish line

BJBurton

Hometown: Raleigh, N.C.
Résumé:Burton has credits as a co-writer, producer, engineer and/or mixer on albums like Lizzo’s Big Grrrl Small World (2015), Francis& The Lights’ Farewell, Starlite! (2016) and Bon Iver’s 22,AMillion (2016).
Biggest Hot 100 Hit:Eminem‘s “Fall,” which peaked at No.12 on Sept.15, 2018
Keeping Up With BJ:Francis& The Lights’ “Morning” became the theme song of Keeping Up With the Kardashians in 2017.

Buddy Ross

Hometown:Kelso, Wash.
Résumé:He has toured as Frank Ocean’s keyboardist since 2012 and later became his music director. Recently he worked as a recording and mixing engineer on Vampire Weekend’s Father of the Bride.
Biggest Hot 100 Hit:Ocean’s “Nights,” which reached No. 98 on Sept. 10, 2016
Political Past:Ross’ instrumental “Scorpio” soundtracked Hillary Clinton’s 2016 presidential campaign video.

Hudson Mohawke

Hometown:Glasgow
Résumé:Since signing to Kanye West’s G.O.O.D. Music production team in 2012, Mohawke most notably worked on four tracks for West’s The Life of Pablo and “Maria” on Christina Aguilera’s Liberation.
Biggest Hot 100 Hit:West’s “Waves,” which reached No. 71 on April 23, 2016
Political Past:Mohawke shared a snap of “Old Town Road” rapper Lil Nas X in his studio earlier in May.

Banks Was Rising to the Top When She Disappeared. Here’s Why (5)

This article originally appeared in the May 25 issue of Billboard.

Banks Was Rising to the Top When She Disappeared. Here’s Why (2024)

FAQs

What was a fear that banks would fail and led people to rush to them to withdraw their money? ›

Perhaps the biggest driver of a bank run is fear. Some customers may believe a financial institution is in trouble and worry about losing money deposited there. This fear can then spread to other customers at that financial institution or other financial institutions, triggering a wave of withdrawal demands.

How did banks become too big to fail? ›

After the Great Depression, it has become a problem for financial companies that they are too big to fail, because there is a close connection between financial institutions involved in financial market transactions. It brings liquidity in the markets of various financial instruments.

Why were banks one of the first institutions to feel the effects of the stock market crash? ›

Explanation: Banks were one of the first institutions to feel the effects of the stock market crash because they had heavily invested in the market. When the market crashed, the value of those investments plummeted, causing significant financial losses.

How would the money market change if there was an increase in bank reserves? ›

If bank reserves increase, banks excess reserves will become larger and banks will have the ability to make loans and create money. This will expand the money supply. The supply curve will shift outwards, creating a surplus at current interest rates.

What banks are collapsing in 2024? ›

Republic First Bank failed on April 26, 2024. Citizens Bank of Sac City, Iowa, failed on November 3, 2023. Heartland Tri-State Bank failed on July 28, 2023.

Can banks seize your money if the economy fails? ›

Your money is safe in a bank, even during an economic decline like a recession. Up to $250,000 per depositor, per account ownership category, is protected by the FDIC or NCUA at a federally insured financial institution. What happens if my bank fails during a recession?

What is the largest bank to fail? ›

The collapse of Washington Mutual (WaMu) in 2008 stands out as the largest bank failure in U.S. history, according to the FDIC. When regulators seized it, WaMu had more than $300 billion in assets and $188 billion in deposits, making it the sixth-largest U.S. bank.

Why are so many banks failing right now? ›

Since the end of 2023, the 10-year treasury yield jumped from 3.86% to 4.5% as the Federal Reserve Board has been steadily raising rates to combat inflation. As rates go up, the value of long-maturity securities decreases, inflicting huge losses on many banks.

Why big banks are collapsing? ›

Banks can fail for many reasons, but generally they fall into a few broad categories: a run on deposits (which leaves the bank without the cash to pay everyone who wants to withdraw their money); too many bad loans or assets that fall precipitously in value (both of which erode the bank's capital reserves); or a ...

What is the safest place for money in a depression? ›

Domestic Bonds, Treasury Bills, & Notes

Mutual funds and stocks are considered to be a big gamble during depressions. While Treasury bonds, bills, and notes are more secure investments.

Do you lose all your money if the stock market crashes? ›

While it appears that you're losing money during a market crash, in reality, it's just your stocks losing value. For example, say you buy 10 shares of a stock priced at $100 per share, so your total account balance is $1,000. If that stock price drops to $80 per share, those shares are now only worth $800.

What causes so many banks to fail during the Great Depression? ›

Many smaller banks, such as this one in Haverhill, Iowa, lacked sufficient reserves to stay in business and became no more than convenient billboards. Many of the small banks had lent large portions of their assets for stock market speculation and were virtually put out of business overnight when the market crashed.

What stops banks from creating money? ›

Required reserves are to give the Federal Reserve control over the amount of lending or deposits that banks can create. In other words, required reserves help the Fed control credit and money creation. Banks cannot loan beyond their excess reserves.

How can the Fed take money out of the economy? ›

Currently, the three ways it does this are: Modifying the interest rate that it pays on banks' reserve balances. Altering the discount rate it charges banks that wish to borrow from it. Adjusting the overnight reverse repo rate it pays to financial institutions for temporary overnight deposits.

What happens when too much money is in circulation? ›

On the other hand, if there is more money in circulation but the same level of demand for goods, the value of the money will drop. This is inflation—when it takes more money to get the same amount of goods and services (see “Inflation: Prices on the Rise”).

How did fear of bank failures cause bank failures? ›

The calling card of a panic, according to contemporaries, was the suspension of numerous banks in close proximity in a short period, such as within ten miles and 30 days. These panics deprived banks of deposits, which forced them to adjust their balance sheets and reduce lending to businesses and households.

What caused bank rush? ›

The general cause is a sudden reduction in the full faith and credit of the institution by its customers. For example, the United States stock market crash in 1929 left the public susceptible to rumors of an impending financial crisis.

Why were fearful citizens attempting to pull their money out of the banks? ›

Thousands of banks failed during the Depression and loss of confidence caused anxious depositors to create "runs" on banks as they tried to withdraw their money before the banks collapsed.

What was the fear people had regarding the bank of the US? ›

Its opponents described it as a “many headed monster” and argued that the bank was actively creating an aristocracy that undermined the interests of ordinary people.. This 1836 political cartoon depicts Andrew Jackson in his battle against the “monstrous” national bank.

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