In a medium bowl, combine the flour, baking soda, salt, and cinnamon.
In the bowl of an electric mixer, beat the butter and sugars on medium-high speed until light and fluffy, about 3 minutes. Add in the vanilla and then the eggs, one at a time. On low speed, beat in half the dry ingredients then the bananas, sour cream, and milk. Beat in the remaining dry ingredients. Gently stir in the walnuts. Do not overmix.
Pour the batter into the prepared pan and bake for about 35 minutes, or until a cake tester inserted into the center comes out clean. Allow to cool completely. Unfrosted cake can be well wrapped and frozen for up to 2 months. Thaw at room temperature before frosting.
Make the frosting:
In the bowl of an electric mixer, beat the cream cheese, butter, and vanilla on medium-high speed until very light, creamy, and smooth. On low speed gradually add in the sugar and beat until fluffy.
Spread the frosting over the cooled cake. Garnish with chopped walnuts. For cleaner cuts, refrigerate for 30 minutes before slicing and serving. Store in the fridge for up to 3 days. Serve at room temperature.