The four-year contract is worth $18.6 million and includes a $4.5 million signing bonus.

Banks, 26, played the first three years of his career with the St. Louis Rams, then was traded to the Ravens last April 17 for a fifth-round pick in the 1999 draft and a seventh-round choice in the 2000 lottery. He began the year on the bench and, at one point in preseason, coach Brian Billick had even offered to release him if that's what Banks preferred.

But the quarterback declined and, with Billick seeking an alternative to ineffective passers Scott Mitchell and Stoney Case, he was elevated to the starting job.

Banks started the final 10 games of the season and played well enough that the Ravens made his retention their No. 1 offseason priority. He completed 169 of 320 passes for 2,136 yards, with 17 touchdowns and only eight interceptions. His 81.2 passer rating was a career high.

The former Michigan State star was the Rams' second-round pick in the '96 draft. In his three seasons in St. Louis he started 43 games.

While he showed flashes of brilliance, Banks also threw more interceptions (42) than touchdown passes (36) and frequently fumbled.

Tony Banks has gone from Brian Billick's doghouse to the penthouse, as affirmed by his new deal.(Allsport)

Most scouts agree that Banks possesses the size (6-feet-4, 225 pounds), pure athleticism and arm strength to be successful but question his maturity and decision-making ability.

His supporters point to the fact he has 11 games in which he registered a passer rating of 100 or more.

The Ravens, who finished the '99 season by winning four of their last five games, have kept up that momentum so far in free agency. In addition to the Sharpe and Banks moves, the team has re-signed defensive linemen Rob Burnett and Larry Webster and acquired free agent offensive tackle Kipp Vickers of the Washington Redskins.