Smith (6-2, 189, Hofstra), who originally signed with the St. Louis Rams as an undrafted rookie free agent on May 10, was waived on Aug. 31. He played two seasons at Hofstra University, recording 61 catches for 951 yards and nine touchdowns after transferring from Nassau (New York) Community College. As a senior, he caught 60 passes for 951 yards and nine touchdowns and recorded four 100-yard games.
Banks (5-10, 225, James Madison), who was signed by the Jets on May 12 as an undrafted rookie free agent, was waived on Sept. 1. He rushed for 11 yards on five carries during the preseason. He finished his career third in James Madison history in rushing yards (2,694) and rushing attempts (551), fifth in rushing touchdowns (28) and had 11 career 100-yard rushing games.