Bank usually referes to a side of the motor. I believe bank 1 refers to the forward cylinder which should be cylinder No. 1. In other words look at the motor from above, use the belts as reference to the front of the motor, then figure out which one sits the most forward. The cylinders should be sligthtly staggered. The farthest piston to the front of the motor should be No. 1.
Then if I am correct, that should be refered to as Bank 1. That entire side of the motor is called Bank 1 and the other side is Bank 2. Each should have an O-2 sensor going before the catalytic converter, then another after the cat. This is how the engine controls the short and long term fuel ratio's.
Your P1150 code should be refering to a A/F Sensor Circuit Range/Performance (Bank 2 Sensor 2). To be honest with you, I would look for a vacuum leak. remember that a computer controlled vehicle will increase the Air/Fuel ratio to compensate for the lean condition.
How many miles are on the car and were there any other codes. Also, where do you live, i.e. country, by the beach, dessert, etc. Give me some more info and I will try to help you the best I can
