To clarify more, bank 1 is the left cylinder row, seen from the drivers seat, consequently bank 2 is the right cylinder row, seen from the drivers seat.
Sensor 1 is the upstream sensor, ie the one closest to the engine exhaust manifold, and sensor 2 is the downstream sensor.
So in your case the bank 2 sensor closest to the exhaust manifold is the problem. Have a look at the wiring first, sometimes a connector could get loose or have a bad contact due to corrosion or dirt or a wire shaved through or is touching an exhaust part, which could have melted the wire insulation.
JEEP Grand Cherokee 4.7 Lmtd 2004
HID 8000K in low and fog / Quad Squad member
Monroe Reflex shocks /
Pirelli Scorpion ATR 245/65/17/
Transgo reprogramming shiftkit.