Heat oven to 350 degrees. I usually use my convection baking setting (add 10% to baking times for conventional ovens).
Vegetable spray bottom only of loaf pan (8.5 x 4.5 x 2.5 or 9x5x3 inches). Mix sugar and softened butter in 2 ½ quart bowl. Stir in eggs until blended.
Add bananas and water. For best results, I use bananas that are well over-ripened and pretty well blackened on the outside. I put them in the freezer and wait until I have enough to make a batch, and then pull them out and thaw them in the refrigerator in a large bowl. Once thawed, discard any water that has collected in bottom of bowl, cut off the stem end of the banana and squeeze out the flesh (like icing in a piping bag). The soft consistency makes them blend easily into the batter without any lumps and discourages over mixing. Add the water to the banana mush and mix them together with a spatula before adding to sugar, butter and eggs. Beat mixture for 30 seconds. Do not over mix.
Mix remaining dry ingredients except nuts in separate bowl and thoroughly whisk together. Stir into batter just until moistened; stir in nuts. Pour evenly into pans. Bake until wooden pick inserted into center comes out clean. 8-inch loaf – 65 minutes, 9-inch loaf – 55 minutes. Cool 5 minutes, loosen sides of loaf and remove loaf from pan. Cool completely before slicing. 2 loaves (24 thick slices). Wrap and refrigerate for up to a week, freeze for up to 2 weeks, slice and let thaw covered overnight before serving.