Spread peanut butter evenly onto one side of each slice of bread. Drizzle honey over the peanut butter. Cut each banana in half lengthwise and then cut in half crosswise (8 pieces total). Arrange 2 banana pieces on 4 of the prepared bread slices. Top with remaining bread slices, peanut butter-sides down.
In a shallow bowl combine eggs, milk, and cinnamon. Carefully dip sandwiches into egg mixture, coating both sides.
Melt butter in a large skillet or on a large griddle over medium heat. Cook sandwiches in hot butter about 2 minutes on each side or until golden.
Meanwhile, in a small saucepan heat fruit preserves over medium-low heat until melted, stirring frequently. To serve, cut warm sandwiches in half crosswise. Drizzle with warm fruit preserves. Makes 8 servings.