In a large bowl, add the softened cream cheese, softened butter, powdered sugar, and vanilla extract.
Use a hand held or stand mixer to beat until combined.
Use a butter knife, large spoon, or offset spatula to spread the frosting on a fully cooled banana bread or cake.
Notes
Softened Cream Cheese and Butter: Be sure that the cream cheese and butter are sufficiently softened and creamy, otherwise, they will leave little lumps in the frosting.Cooling the Banana Bread: Make sure that the banana bread or cake has fully cooled before adding the frosting. Otherwise, the frosting will start to melt.Spreading the Frosting: The frosting should also be soft enough to spread. To make it softer, let it sit at room temperature for longer, or microwave it at 20% power for 30 seconds at a time until it is at your desired consistency. If it is too soft, refrigerate the frosting until it is firmer.Storing: Store any leftover banana bread or cake (or other baked good) topped with cream cheese frosting in the fridge.Banana Bread Baking Tips: For tips on making the best banana bread, see my Complete Guide to Baking Banana Bread.