Place strawberry preserves in a medium bowl. Stir until smooth.
Add sliced strawberries. Stir gently, to coat.
In a wide bowl, add eggs, vanilla extract, and cinnamon. Mix well until fully combined.
Spray a large skillet sprayed with nonstick spray. Set aside.
Place a piece of bread in egg mixture. Coat the bottom. Turn and coat other side.
Place sprayed skillet over medium high heat.
Add butter.
When butter has melted and is hot (do not burn), place egg-coated bread in skillet. Cook until golden brown on bottom, about 1 to 2 minutes per side. Turn over and cook other side the same.
Place cooked bread on a cutting board. Repeat with remaining 2 slices of bread.
Cut each prepared slice in 1/2 diagonally.
Place French toast triangles on a serving plate or 2 serving plates.
Spoon strawberry mixture over bread.
Sprinkle with sliced banana.
Dust with powdered sugar.
Top with a dollop of whipped cream.
Serve warm.