Need PSD File??

Ok I have a business banner that has only text...I need the Text to some how become a PSD file so I can put it on pictures etc without having a white back ground etc.

I appreciate any help to get it started!

EDIT: Actually I just figured it out at least the wand method.

Any other advice please let me know

Your best bet, honestly, would be to redesign the banner from scratch, if it is only text it shouldn't be too hard.

The reason I say this is because if you are going to print or have this banner printed you want the vector text that photoshop can give you. This will give you better, smoother text.

First thing I would do:

1: Open the banner you are working on
2: Create a new layer Layer>New>New Layer
3: Fill this layer with white Edit>Fill (to give you a clean background to work from)
4: Hide the "white" layer and get the text tool
5: Using the text tool retype the text that was originally on your banner
6: reposition, resize and change the font as needed to fit the original design
7: Put the text layer at the top of the layer stack (it should be there already, but...) and turn on "white" layer.

From here you can add whatever you need to behind the text on a new layer, while still keeping the high quality text that you want at output.

I hope this helps. Please feel free to ask for clarification, I'm sure I can be confusing sometimes.