Step 1: Preheat the Oven and Prepare the Pan

1. Preheat your oven to 350°F (175°C).
2. Grease a 9×5-inch loaf pan with butter or non-stick spray, and lightly dust it with flour. Alternatively, line the pan with parchment paper for easy removal.

Step 2: Prepare the Cherries

1. Drain the maraschino cherries well and pat them dry with a paper towel to remove excess moisture.
2. Chop the cherries into small pieces and set them aside. Reserve 2 tablespoons of the cherry juice for the batter and glaze.

Step 3: Mix the Dry Ingredients

1. In a medium bowl, whisk together the flour, baking powder, baking soda, and salt. Set aside.

Step 4: Cream the Butter and Sugar

1. In a large mixing bowl, cream the softened butter and granulated sugar together using an electric mixer on medium speed until light and fluffy, about 2-3 minutes.
2. Add the eggs, one at a time, beating well after each addition.
3. Mix in the vanilla extract and almond extract until combined.

Step 5: Combine Wet and Dry Ingredients

1. Gradually add the dry ingredients to the butter mixture, alternating with the buttermilk. Begin and end with the dry ingredients, mixing on low speed until just combined. Do not overmix, as this can make the bread dense.
2. Gently fold in the chopped cherries and 2 tablespoons of cherry juice, being careful not to overmix.

Step 6: Bake the Cherry Bread

1. Pour the batter into the prepared loaf pan, spreading it evenly.
2. Bake in the preheated oven for 50-60 minutes, or until a toothpick inserted into the center of the bread comes out clean.
3. If the top of the bread starts to brown too quickly, tent it loosely with aluminum foil during the last 15 minutes of baking.

Step 7: Cool the Bread

1. Remove the bread from the oven and let it cool in the pan for 10-15 minutes.
2. Carefully transfer the bread to a wire rack to cool completely before adding the glaze.

Step 8: Prepare the Glaze (Optional)

1. In a small bowl, whisk together the powdered sugar, cherry juice, and almond extract until smooth.
2. Drizzle the glaze over the cooled bread, letting it run down the sides for a decorative finish.

Step 9: Garnish and Serve

1. Garnish with whole maraschino cherries, sprinkles, or slivered almonds if desired.
2. Slice and serve the bread with coffee, tea, or as a sweet snack.