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1.
Someone who poops and masturbates at the same time. Often used as another word for a "douche" or "jerk".

Poop + Wank = Pank

Other forms: Panker, Panking etc.
Nathan: Stephen copied my homework and turned it in before me. Now the teacher thinks I copied him.

Albert: What a panker.
by Orielol February 11, 2010
 
2.
another word for someone being a "pussy"
DreamTactix291 is a panker
by lalahsghost February 18, 2004
 
3.
A "petty wanker"...
like John McCain.
Nora: Hey, did you hear about how Pete got a papercut and started crying?

Sally: ROFL. What a panker.
by Bob Deng January 24, 2009