John Deere B Flywheel

When I would shut down the B, there would be a banging noise coming from the crankcase area. Suggestions on this site some time ago said the flywheel was loose or out of adjustment. Sure enough, it was a bit loose on the crank shaft. Loosened it up and tightened it back down, but noticed that it is a bit out of plumb(?) when it revolves, to about plus or minus an 1/8 inch.
Shouldn't it be square to the crankshaft to prevent an increase in wobbling when it runs? I'm going to loosen it again and 'square' it with a dial, but wonder if there would be any other suggestions?
Thanks for your help!

Did you set the crankshaft end clearance ?

If your noise has been evident very long, the SPLINES are prob no longer TRUE and so CRANK & FLY WHEEL are no longer 90DEGREES to each other.

agree,you need new crank and another flywheel.to fix it correctly,

Check the flywheel carefully all the way around the two bolts to tighten it with for any cracks. If no cracks are visible with slight magnification loosen the flywheel bolts. While you have the flywheel loose rock the flywheel back & forth on the crank splines gently, measure how much the flywheel moves front to back on the splines. Anything over 3/4 of an inch measured at the outside of the flywheel means it's time to address the loose splines. Either a taperlock flywheel, or as stated above a new matched flywheel & crankshaft.
If the splines are loose, rock the flywheel gently ( top to rear) until it stops & back off just about a 1/16th of an inch & hand tighten the two bolts
Use a dial indicator & set the crank shaft endplay to around .008 using the large nut, and rocking the clutch handle front to rear without dis-engaging the clutch. Once you have it set retorque the bolts evenly from 100 to 120 140 up to 160 ft lbs. Then re-check the end play with the dial indicator & clutch handle each time.
Now run the tractor for a while, check the torque on the bolts each 5 to 8 hrs of operation, if it starts to work loose, or you start to see any cracking it's time to park it.

Thanks to all for the comments and advice. The splines seem to be ok, but I'll loosen the flywheel and redo to see if it''ll work correctly. There do not appear to be any cracks, and I'm hoping for the best. Thanks again!

If you can move flywheel toward front of tractor and back toward the rear of tractor at anytime its not ok its very bad.