COMBINE cereal, flour, sugar and baking powder in large bowl; set aside.
BEAT eggs, milk and butter in medium bowl with wire whisk until well blended. Add bananas; mix well. Add to dry ingredients; stir just until moistened. (Batter will be slightly lumpy.) Let stand 10 min.; stir in walnuts.
HEAT lightly greased electric griddle to 350°F or skillet on medium-high heat. Pour scant 1/4 cup batter onto griddle for each pancake. Cook until bubbles form on tops; turn over to brown other sides.
