1. Preheat the oven to 350°F and grease a 9×5-inch loaf pan. Line it with parchment paper for easier removal if desired.

2. In a medium bowl, whisk together the flour, baking powder, and salt.

3. In a large mixing bowl, beat the softened butter and sugar until light and fluffy.

4. Add the eggs one at a time, mixing well after each one. Stir in the almond extract and vanilla extract.

5. Add the dry ingredients to the wet ingredients in three additions, alternating with the milk. Mix just until combined.

6. Fold in the chopped maraschino cherries and chopped almonds gently so the batter stays light.

7. Spread the batter evenly into the prepared loaf pan and smooth the top.

8. Bake for 45 to 55 minutes, or until a toothpick inserted into the center comes out clean or with a few moist crumbs.

9. Cool the bread in the pan for 10 to 15 minutes, then transfer it to a wire rack to cool completely.

10. In a small bowl, whisk together the powdered sugar and maraschino cherry juice until smooth.

11. Drizzle the glaze over the cooled loaf and top with extra chopped cherries and sliced almonds if using.

12. Let the glaze set slightly, then slice and serve.