01 -
Preheat oven to 325° F. Spray an 8x8 square dish with nonstick cooking spray and set aside.
02 -
In a large bowl, combine flour, baking soda, baking powder, salt, cinnamon, and nutmeg. Stir to combine and set aside.
03 -
In a separate bowl, using a hand mixer or stand mixer, mix sugar, oil, and applesauce together. Add eggs, vanilla extract and mashed bananas and mix just until combined.
04 -
Slowly incorporate the dry ingredients into the wet until just combined. Pour into prepared dish and bake 25-30 minutes or until toothpick comes out clean when inserted. Cool completely.
05 -
Place butter in a small saucepan over medium heat. As soon as the butter melts, remove from heat immediately and pour into a different container. Cool to room temperature.
06 -
In a small bowl, using a hand mixer or stand mixer, whip together cooled melted butter, vanilla extract, powdered sugar and heavy cream until smooth and creamy.
07 -
Spread frosting over cooled cake and top with chopped walnuts, if desired. Slice into even squares and serve!.