Beat sugar and shortening at medium speed with an electric mixer until creamy. Add eggs, banana, and vanilla, beating well.
Combine flour and next 3 ingredients; add to banana mixture, beating until combined. Stir in chopped walnuts.
Pour into a greased and floured 8-inch loaf pan.
Bake at 350° for 1 hour or until a wooden pick inserted in center comes out clean. Cool on a wire rack 10 minutes; remove loaf from pan, and cool completely on wire rack.