Spread half the peanut butter on one slice of bread. Add the sliced banana and bacon.
Spread the other half of peanut butter on the other slice of bread and top the sandwich with it.
On a griddle over medium heat, melt half the butter. Then add the sandwich and move it around to spread the butter evenly on it.
Add a press of some kind on top of the sandwich, just for 15 - 20 seconds or so. Make sure you don't completely squish the sandwich. Then remove the press. Cook the sandwich for about 2 minutes or until the bread is golden brown.
Flip and add the other half of the butter to the pan. Once melted, move the sandwich over it and spread the butter evenly again. Cook for 2 minutes or until browned.
Remove from heat, cut into triangles and enjoy immediately!