Generously butter a 9x13 inch baking dish. Spread the cubed bread evenly in the prepared dish. Arrange the sliced bananas over the bread in an even layer, then sprinkle with 1/4 cup brown sugar and 1/2 cup toasted nuts.
In a large bowl, whisk together the eggs, milk, cream, granulated sugar, vanilla, cinnamon, nutmeg, and salt until completely smooth and well combined.
Slowly and evenly pour the custard mixture over the bread and bananas in the baking dish. Gently press down on the bread with a spatula to ensure all pieces are submerged. Let it sit for 15 minutes to absorb.
While the casserole soaks, make the topping. In a medium bowl, combine the flour, 1/4 cup brown sugar, cinnamon, and cold butter cubes. Use a pastry cutter or your fingers to work the butter into the dry ingredients until the mixture resembles coarse crumbs. Stir in the remaining 1/2 cup chopped nuts.
Preheat your oven to 350°F (175°C). Sprinkle the streusel topping evenly over the soaked casserole. Bake in the preheated oven for 40-50 minutes, or until the top is golden brown, the custard is set, and a knife inserted in the center comes out clean.
Remove the casserole from the oven and let it rest for 10 minutes before serving. This allows the custard to set fully for cleaner slices. Serve warm, in slices, directly from the dish.