Step 1

Prep: Preheat the oven to 350℉ and line an 8x8 baking pan with parchment paper and set aside. Mash the banana, chop the strawberries, and set aside.

Step 2

Mix dry ingredients: In a bowl, combine flour, baking powder, baking soda, salt, nutmeg and cinnamon, mix and set aside.

Step 3

Cream butter & sugars: In a large bowl, using a hand mixer with beater attachment cream together the butter, brown sugar and granulated sugar until smooth. Add oil and beat for 30 seconds, then add the eggs and beat another minute until combined.

Step 4

Wet & dry: Alternate the dry ingredients and the buttermilk, starting with the dry ingredients and mixing after each addition.

Step 5

Add Bananas: Fold in the bananas using a spatula.

Step 6

Pour & Bake: Pour into the prepared pan and bake for 30-40 minutes, until a toothpick inserted comes out clean. Depending on your oven, it could take more or less time. If you feel like the top is browning too much, cover it loosely with foil. Start checking at 25 minutes.

Step 7

Remove from the oven and let cool completely.

Step 8

Beat: In a medium bowl, beat together the cream cheese and butter until combined and smooth, for about 3 minutes. Add the vanilla extract and salt and beat until combined, then add the powdered sugar 1/2 cup at a time until each addition is incorporated, and beat for a few minutes until it's very smooth.

Step 9

Frost: Once cake is completely cooled, frost, and drizzle caramel sauce if desired.