As far as I am aware, the term "panoramic" was originally applied to the swinging-lens Kodak cameras of the early 1900s. When I hear "banquet", I think of a conventional camera (possible with a short bellows) which takes a plate split horizontally from a normal size (e.g. 8 x 20" instead of 16 x 20", etc.). As banquet shots were generally lit by flash powder in the old days, I would think a swinging-lens camera would be highly impractical.
As regards modern panoramic cameras, the term seems to be applied to any camera that make a long thin picture, no matter whether with a swinging lens or static lens. I am always surprised that people pay a lot of money for custom-made panoramic cameras, I find a Crown Graphic with a Horseman 6 x12 cm back just great, and there is always the option of a Chinese 6 x17 cm booster back if you want to go even wider (personally I like the 2:1 ratio best).
Regards,
David