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Preheat oven at 350 degrees.
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With electric mixer, cream brown sugar and butter. Spread mixture over bottom of a 9 inch square baking dish with 2 inch high sides. Arrange sliced bananas on top of mixture, covering completely. Set aside.
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Combine flour, baking soda, baking powder and salt in a small bowl.
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Mix mashed bananas, buttermilk and vanilla in another small bowl.
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Using an electric mixer, cream 1 1/4 cups sugar and shortening until fluffy. Add eggs 1 at a time, beating well after each adition. Add dry ingredients alternately with buttermilk mixture, mixing until just combined.
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Pour batter over bananas in pan. Bake until cake pulls away from sides of pan and a pick inserted into the center of cake comes out clean, about 1 hour and 5 minutes. Cool slightly.
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Turn cake onto serving plate.