The Collaborative International Dictionary of English v.0.48:

Banquet \Ban"quet\, v. i.
   1. To regale one's self with good eating and drinking; to
      feast.
      [1913 Webster]

            Were it a draught for Juno when she banquets,
            I would not taste thy treasonous offer. --Milton.
      [1913 Webster]

   2. To partake of a dessert after a feast. [Obs.]
      [1913 Webster]

            Where they did both sup and banquet.  --Cavendish.
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The Collaborative International Dictionary of English v.0.48:

Banquet \Ban"quet\, n. [F., a feast, prop. a dim. of banc bench;
   cf. It. banchetto, dim. of banco a bench, counter. See Bank
   a bench, and cf. Banquette.]
   1. A feast; a sumptuous entertainment of eating and drinking;
      often, a complimentary or ceremonious feast, followed by
      speeches.
      [1913 Webster]

   2. A dessert; a course of sweetmeats; a sweetmeat or
      sweetmeats. [Obs.]
      [1913 Webster]

            We'll dine in the great room, but let the music
            And banquet be prepared here.         --Massinger.
      [1913 Webster]

The Collaborative International Dictionary of English v.0.48:

Banquet \Ban"quet\, v. t. [imp. & p. p. Banqueted; p. pr. &
   vb. n. Banqueting.]
   To treat with a banquet or sumptuous entertainment of food;
   to feast.
   [1913 Webster]

         Just in time to banquet
         The illustrious company assembled there. --Coleridge.
   [1913 Webster]

WordNet (r) 3.0 (2006):

banquet
    n 1: a ceremonial dinner party for many people [syn: banquet,
         feast]
    2: a meal that is well prepared and greatly enjoyed; "a banquet
       for the graduating seniors"; "the Thanksgiving feast"; "they
       put out quite a spread" [syn: banquet, feast, spread]
    v 1: provide a feast or banquet for [syn: feast, banquet,
         junket]
    2: partake in a feast or banquet [syn: feast, banquet,
       junket]