Banks is a 10-year CFL veteran, spending the last eight seasons with the Lions.
Regarded as a shutdown defensive back, Banks has been a CFL all-star five times, a division all-star eight times and has nabbed 37 interceptions in his career – including 27 as an eight-year starter with the B.C.
He broke into the league in 2004 with the Ottawa Renegades.
The 2013 season saw Banks collect 46 tackles, three special teams tackles, one sack, two interceptions and two fumble recoveries.
"Korey adds an immediate presence in our locker room, veteran leadership both on and off the field, and we look forward to welcoming him to the Bomber organization. We also wish Kito all the best in Vancouver and thank him for his contributions to the Winnipeg Blue Bombers,” said general manager Kyle Walters.
A two-time Grey Cup winner, Banks has played in 163 regular season games, 10 playoff games and two Grey Cups.
Poblah was selected in the 2011 supplemental draft by Winnipeg.
He dressed in 34 games over three seasons, catching 53 passes for 534 yards and one touchdown.