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PREHEAT oven to 350°F. Mix flour, cereal, spice, baking powder and baking soda in medium bowl; set aside.
BEAT sugar and margarine in large bowl with electric mixer on medium speed until light and fluffy. Add eggs; mix well. Add flour mixture alternately with milk, beating well after each addition. Blend in bananas. Pour into greased 9x5-inch loaf pan.
BAKE 1 hour to 1 hour 5 minutes or until toothpick inserted in center comes out clean. Cool in pan 10 minutes on wire rack; remove from pan. Cool completely. Cut into 16 slices.