In a large saucepan, bring water, milk and salt to a boil. Stir in oats; cook 5 minutes over medium heat, stirring occasionally. Cover and let stand.
In a small heavy saucepan, melt butter over medium heat. Stir in brown sugar and spices; bring to a boil. Reduce heat; simmer, uncovered, 5 minutes or until slightly thickened. Add bananas; cook, stirring gently, until bananas are glazed and slightly softened, 1-2 minutes.
Remove from heat; stir in extracts. Stir banana mixture into oatmeal. Spoon oatmeal into serving bowls; add toppings of your choice.