Power efficiency is one of the grand challenge problems facing computer architecture in recent years. Driven by the growth towards green computing, it is imperative to design architectures that can provide maximum power savings while incurring minimal overhead on real estate and performance. Towards this we propose a state-preserving mechanism for dynamically configuring DRAM banks based on utilization. We propose a novel mechanism via which it is possible to dynamically power down and power on banks while taking the bank utilization and overall performance into account. Over extensive experimentation using memory intensive applications, we can observe a power savings of up to 12.31% while incurring an average performance loss of 0.82% over baseline executions. © 2019 IEEE.