Preheat oven to 300 F.

Drain cherries and discard the juice. Chop cherries and set aside.

Beat butter and shortening at medium speed with electric hand mixer until creamy.

Gradually add sugar, beating for 1 minute.

Add eggs one at a time, beating until yolk is fully mixed in.

In a small bowl, combine flour and salt.

Gradually add flour to butter mixture, alternating with the milk, beginning and ending with flour. Beat at low speed until fully combined.

Stir in extracts and a heaping 1/2 cup of chopped cherries. (Save remaining cherries for the glaze.)

Spoon batter into prepared mini loaf pans.

Bake for 35 – 45 minutes or until toothpick comes out clean. (Check at 35 min.)

In the meantime, prepare glaze. Beat butter and cream cheese at medium speed until creamy. Gradually add powdered sugar and milk. Beat until smooth. Stir in vanilla extract and remaining chopped cherries. Set aside.

Remove cakes from the oven and cool in pans on wire racks for 10 minutes.

Remove cakes from pans. Place on wire racks set on large sheets of wax paper.

Drizzle cherry glaze over the slightly warm cakes.

Serve warm, or refrigerate and bring to room temperature when ready to serve.