Step 1: Cream shortening and sugar until fluffy, then beat in eggs.
Step 2: Stir in the milk and bananas.
Step 3: Sift flour, baking powder and salt, then stir in the peanuts. Add dry ingredients to cake batter and beat until smooth and well blended.
Step 4: Pour this batter into two greased 8-inch cake pans and bake 30 to 35 minutes in a preheated 350-degree oven.
Step 5: Cool in pans for 5 minutes, then loosen at edges and remove layers to cool on racks.
Step 6: When thoroughly cooled, spread icing between layers and over the top.
Step 7: Cook sugar, egg yolks, butter and milk on low heat for 10 to 12 minutes, stirring constantly.
Step 8: Remove from heat and add nuts and coconut and stir until very thick and smooth.
Step 9: Spread on cooled cake.
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