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HEAT oven to 350°F.
DRAIN maraschino cherries, reserving 2 Tbsp. juice. Cut cherries into quarters; set aside. Combine next 3 ingredients.
MIX eggs, butter, sugar and reserved cherry juice in medium bowl until blended. Add bananas; mix well. Add flour mixture; stir just until moistened. Stir in cherries and nuts.
POUR into 9-inch square baking pan sprayed with cooking spray.
BAKE 1 hour or until toothpick inserted in center comes out clean. Cool in pan 5 min.; remove to wire rack. Cool completely.