Mash the bananas in a medium bowl. Stir in the milk, vanilla extract, melted butter, and egg.
In a large bowl, whisk the flour, sugar, baking powder, salt, and nutmeg.
Add the wet ingredients to the dry ingredients and stir to combine. The batter will be lumpy.
Heat the oil and butter on a griddle or in a large nonstick skillet over medium-high heat. The oil will help prevent the butter from burning.
Once the skillet is hot, scoop the batter to form pancakes in the hot pan. Cook the pancakes in batches until the center starts bubbling and the edges have firmed up.
Carefully flip the pancakes over to cook the other side for another couple of minutes.
Remove the pancakes and serve right away with your favorite toppings or place them on a baking sheet to keep warm in a warm oven while you cook the rest.
Notes
For an extra treat, skip the maple syrup and top your pancakes with maple butter glaze:Melt 1/4 cup of unsalted butter in a small saucepan over medium heat. Add 2 tablespoons of brown sugar and stir until it melts into the butter. Add 1/4 cup pure maple syrup and bring the mixture to a boil for about two minutes. Serve immediately with the pancakes.