Which comes first: the banister or the hardwood floor?

Q: I am remodeling my home. In my living room, I am installing hardwood flooring (3/4″ Oak), and in the same room a banister to the staircase that is there. Should I put the hardwood down first then put the banister to the ground?

Or should I set the banister into the subfloor, laying the hardwood around it?

If both are an option to do it properly, which has the most benefit?

A: Do the floor first and save yourself a lot of expense and grief.