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Preheat oven temperature: 350 F
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1. Whip the butter/margarine in a large bowl using your stand mixer for 2 minutes, until light and fluffy.
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2. Add the sugars and mix until creamed.
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3. Add the whole eggs. Stir to combine. Add the egg whites one at a time, beating well between each addition.
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4. Add the vanilla then add the bananas in two batches, beating well between each addition. Allow it to mix together for 2 minutes.
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5. In a medium sized bowl sift together the 3 1/2 cups flour, baking soda, salt, baking powder, cinnamon and nutmeg. Sifting here is very important so don't skip this step. This will allow the bread to be lighter.
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6. With the mixer on low speed, add 1/3 of the flour mixture. Mix until just combined. Add 1/2 of the milk and mix to combine. Repeat with another addition of the flour and then the remaining milk. Add the last 1/3 of the flour last. Mix until just combined.
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7. Place the walnuts in a small bowl and sprinkle with the remaining 1 teaspoon flour. Stir to coat. This will ensure the nuts are throughout the bread and not just on the bottom.
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8. Using a rubber spatula, stir the nuts into the bread mixture.
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9. Spray the bottom of two 9x5-inch loaf pans with non-stick spray. Evenly divide the batter between the two pans.
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10. Bake for 1 hour.
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11. Remove from the oven, set pans on a rack and allow bread to cool in the pans for 10 minutes before turning out.
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12. Carefully slice and enjoy!