On late Friday night a baseball legend was lost. Ernie Banks, who was known as "Mr. Cub", passed away at the age of 83 and will be remembered as one of the most iconic figures of the 20th century.

Banks was the first African American to sign with the Chicago Cubs after a couple of impressive seasons with the Kansas City Monarchs of the Negro Leagues. Banks debuted with the Monarchs at the age of 19 and then served a stint in the Army before the Cubs purchased his contract for $10,000 in 1953. He holds franchise records for games played (2,528), extra base hits (1,009) and total bases (4,706), among others. He also won back-to-back MVP awards in 1958 and 1959.

Mr. Cub played 19 seasons in the MLB and amassed 1,305 runs scored, 512 home runs and 1,636 RBIs all the while maintaining a stat line of .274/.330/.500. His 512 home runs are the most among shortstops in history and he was inducted into the Hall of Fame in 1977 as a first balloter. In 1999 he was selected as a member of baseball's all-century team, joining an elite cast of the game's greats.

Banks' personality is best emulated by his Hall of Fame speech when he famously said, "There's sunshine, fresh air, and the team's behind us. Let's play two!"

President Obama presented the legend with the Presidential Medal of Freedom back in 2013 because of his contribution to the game of baseball as well as his role as an ambassador for the sport. Obama released a statement on Saturday mourning the death of Banks:

"Ernie came up through the Negro Leagues, making $7 a day. He became the first African-American to play for the Chicago Cubs, and the first number the team retired. Along the way, he became known as much for his 512 home runs and back-to-back National League MVPs as for his cheer, his optimism, and his love of the game. As a Hall-of-Famer, Ernie was an incredible ambassador for baseball, and for the city of Chicago. He was beloved by baseball fans everywhere, including Michelle [Obama], who, when she was a girl, used to sit with her dad and watch him play on TV. And in 2013, it was my honor to present Ernie with the Presidential Medal of Freedom."

But the president wasn't the only person to have kind words for Banks. Former Cubs' manager Dusty Baker remembered Banks' unforgettable personality:

"Ernie was never in a bad mood. I couldn't believe how a guy could never be in a bad mood. Forty years later, and he's still never been in a bad mood."

Chicago Cubs' chairman Tom Ricketts also released a statement on Saturday honoring the Hall of Famer:

"Words cannot express how important Ernie Banks will always be to the Chicago Cubs, the city of Chicago and Major League Baseball," chairman Tom Ricketts said in a statement. "He was one of the greatest players of all-time. He was a pioneer in the major leagues. And more importantly, he was the warmest and most sincere person I've ever known. Approachable, ever optimistic and kind-hearted, Ernie Banks is and always will be Mr. Cub."

Banks, who would have turned 84 on January 31, will likely be honored by the league in 2015. Keep an eye out for May 12, which was the date in 1970 with Banks became the eighth member for join the 500 Home Run Club.