Preheat oven to 350° F. Grease and flour two 9-inch round baking pans; set aside.
In a large bowl, with a wooden spoon, mix flour, sugar, baking powder, baking soda, and salt; set aside.
Mash bananas in a food processor or in a separate bowl by hand. Add eggs, buttermilk, applesauce and mashed bananas to flour mixture, mixing well. Stir in chopped nuts.
Pour batter into prepared pan and bake at 350° F. for 35 minutes or until wooden toothpick inserted in center comes out clean.
Cream Cheese Frosting:
Combine cream cheese, margarine or butter and vanilla in a mixing bowl. Beat until well blended and smooth. Gradually add powdered sugar while beating. Frosting should be thick and smooth. If necessary, add more powdered sugar until the frosting is firm.
To toast coconut, spread both cups coconut in a thin layer on a baking sheet. Bake at 300° F. for about 20 minutes, stirring in 5 minute intervals to make sure that the coconut browns evenly.
Notes: You may also bake in a 9×13-inch pan; 40 minutes baking time, and half the cream cheese frosting recipe to frost only the top of the cake.
Photography by Hoosier Homemade.