No, Bank 1 is firewall side, Bank 2 is radiator side of the engine. The cylinders (as you sweep from passengerside to driverside) are numbered 1,2,3 on Bank 1 and 4,5,6 on Bank 2.
As far as "Bank" notation, imagine the engine rotated 90 degrees anti-clockwise from where it sits now. That is how it would sit in the F150. Traditionally, engines sat this way in automobiles before the advent of FWD. The "left" bank is Bank 1, the "right" bank is Bank 2.
P0130 - Bank 1, O2 Sensor 1
P0140 - Bank 1, O2 Sensor 2
P0150 - Bank 2, O2 Sensor 1
P0160 - Bank 2, O2 Sensor 2