AceShowbiz -

Peter Banks, one of the founding members of British band Yes, died at age of 65 due to heart failure. According to a statement on his website, Banks was found dead in his house in London on Thursday, March 7 after failing to show up for a recording session.

"We are deeply saddened to learn about the passing of fellow bandmate and founding Yes member, Peter Banks. He was a huge piece of the fabric that made Yes what it is, and our thoughts, sincere condolences, and prayers are with him and his family," the current members of Yes said in an official statement. "We shall miss you greatly."

Another former member of Yes, Billy Sherwood, also mourned the guitarist's sudden passing. "I loved working with Peter on the many records I have produced over the years," he said. "He always delivered amazing stuff, creative, inspires and always with that classic original Yes flavor that came with his playing. He will be missed by me and many, many other fans of his music and playing."

Banks is known for his performance with Yes and Flash. Along with Chris Squire, Banks formed Yes in 1968. Banks played with Yes through their first two albums, "Yes" and "Time and a Word", but he departed the band due to disagreements over the direction of the second album in 1970.

Later, Banks formed Flash and released three studio albums with the group, "Flash", "In the Can" and "Out of Our Hands". Banks also explored solo recordings, releasing his first solo album, "Two Sides of Peter Banks" in 1973, followed by four more solo works, "Instinct", "Self-Contained", "Reduction" and "Can I Play You Something?".