A little more than a week after Southern University announced it had come to terms with men’s basketball coach Roman Banks on a contract extension, the agreement became official Friday when the SU System Board of Supervisors approved the new deal for the coach.

Banks, whose original Southern contract was set to expire after the 2013-14 season, has a new five-year deal that will have him making $165,000 per season in base salary.

Banks could make in excess of $200,000 by triggering a number of performance-based incentives included in the contract.

The extension comes on the heels of Banks leading Southern to its first NCAA tournament in seven years and a scare of No. 1 seed Gonzaga in the first round. Banks was named the Southwestern Athletic Conference’s co-coach of the year after the Jaguars posted a 23-10 overall mark, finished second in the SWAC’s regular season and won the SWAC tournament title.

In addition, the former Northwestern State point guard has helped rid Southern of the APR issues he inherited two years ago.

“He is a tremendous ambassador of Southern University,” Athletic Director Will Broussard said.

The length of the contract is not commensurate with those of other Southern coaches.

First-year football coach Dawson Odums, for instance, agreed to a contract in December that includes only two years guaranteed with a mutual option for the third.

For Banks, Broussard said an exception was made.

“Obviously, the board felt like (Banks) was a special candidate coming off an exceptional performance last year, so much so that they were willing to allow us to propose a contract the Board would otherwise not allow me to extend,” Broussard said.

Banks made a base salary of $115,000 in his first two seasons as Southern’s coach.

Broussard said the new deal puts Banks behind only Texas Southern’s Mike Davis on the list of the SWAC’s highest-paid basketball coaches.