In a large bowl, beat shortening and sugar with a mixer at medium-high speed until fluffy, 4 to 5 minutes, stopping to scrape sides of bowl. Add eggs, one at a time, beating just until combined after each addition. Stir in banana and vanilla.
In a medium bowl, whisk together flour, baking powder, and salt. Gradually add flour mixture to shortening mixture, beating at medium speed just until combined. Fold in peanuts.
Spray a 10- to 15-cup Bundt pan with baking spray with flour. Spread batter in prepared pan.
Bake until a wooden pick inserted near center comes out clean, about 1 hour. Let cool in pan for 10 minutes. Invert cake onto a wire rack, and let cool completely. Spread Ganache Glaze onto cooled cake. Garnish with peanuts, if desired. Store in an airtight container for up to 3 days.
Recipe by Paula Deen Magazine at https://pauladeenmagazine.com/chocolate-glazed-peanut-banana-cake/