Banks, 25, was starting at Triple-A Syracuse this year and entered this season as one of the top candidates to aid Toronto's rotation in an emergency situation. The Jays designated the right-hander for assignment on Saturday to clear room on the club's 40-man roster for reliever Shawn Camp.
Through three starts this season -- Banks' third tour with Triple-A Syracuse -- he was 0-2 with a 7.02 ERA for the Chiefs. Last year, Banks went 12-10 with a 4.63 ERA, 101 strikeouts and 24 walks for Syracuse, earning the organization's Most Valuable Player honor for the Triple-A level in the process.
Banks, who was a second-round pick by Toronto in the 2003 First-Year Player Draft, was promoted to the Jays last September and posted a 7.36 ERA in three games. Now that Banks is with the Padres, the rotation at Triple-A Syracuse currently consists of David Purcey, Kane Davis, Davis Romero, Bill Murphy and John Parrish.
Jordan Bastian is a reporter for MLB.com. This story was not subject to the approval of Major League Baseball or its clubs.