Lou Banach grew up wrestling with his brother, Steve, and his older twin brother, Ed Banach. They were one of 14 children who grew up in a children’s home after their father abandoned the family after a house fire. Lou and Ed both wrestled at the University of Iowa, where Lou won NCAA titles inn 1981 and 1983. After the 1984 Olympics he ended his competitive career and joined the US Army as a second lieutenant, coaching at the US Military Academy at West Point. Banach would later earn an MBA from Penn State University. He went into banking, initially with PNC in Cleveland, but later settling in Wisconsin, where he worked first with LaSalle Bank and later Associated Bank.