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CAKE: Grease and lightly flour two 9 x 1 1/2" round baking pans. In a mixer bowl combine the first 5 ingredients. Add butter and banana; beat on low speed of electric mixer till combined. Add buttermilk, eggs, and vanilla; beat 2 minutes on medium speed. Turn batter into prepared pans. Bake in a 350° oven for 30 minutes or till a toothpick comes out clean. Cool 10 minutes on wire racks. Remove from pans; cool thoroughly.
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FROSTING: In small mixer bowl, beat butter till light and fluffy. Gradually add about half of the powdered sugar, beating well. Beat in milk and vanilla. Gradually beat in remaining powdered sugar. Beat in additional milk, if necessary, to make frosting of spreading consistency.
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