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The act of banking on not having school because of a snowy forecast. At the very least this will usually consist of doing absolutely no work for the next day. Other options include: staying up later than usual, playing in the victory snow, staying at someone else's house, drinking, and other various activities. This glorious activity can be carried out by both students and teachers. The less snow called for, the more exciting the snow banking is.

Disclaimer: Snow banking can only truly occur if the snow banker has no knowledge of an actual snow day yet
Derek: How is that paper coming along that's due tomorrow?
Cam: I'm not working on it, I'm over at Conor's
Derek: How will you get it done before tomorrow then?
Cam: It doesn't matter. They're calling for a half inch of snow overnight. I'm snow banking. Hard.
by christmas ham January 31, 2011
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The act of having to park in a space that is half filled with snow, usually meaning that one or two car wheels will be elevated.
Due to lack of parking spaces, she had to resort to snowbanking and her left two tires were stuck in the snow.
by Poetic Diva February 22, 2011
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In New England back in the day... Snow Banking was the art of a bunch of buddies in a junk car riding around the roads during or right after a huge snow storm and bouncing off snow bank after snow bank...not really caring about anything because you can't hit anything!
Ok, guys, it's time to stop at the packy and pick up a case of Schlitz and go Snow Banking!
by Murph the snow bird January 11, 2015
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