Preheat oven to 400°. Process bread in food processor 20 seconds or until coarsely chopped. Stir together breadcrumbs, olive oil, and melted butter. Spread breadcrumb mixture in an even layer on an aluminum foil-lined baking sheet.
Bake at 400° for 15 minutes or until lightly browned, stirring every 5 minutes. Stir in chopped parsley and thyme; add salt and pepper to taste. Bake 2 more minutes. Use immediately.