Preheat oven to 350°F

If using fresh peaches, blanch 30 seconds, peel, pit, slice

Pour melted butter into cast iron skillet or 9x13-inch pan

Sprinkle brown sugar evenly over butter, press down

Arrange peach slices decoratively over brown sugar

Add cherry halves in gaps if using

Whisk flour, baking powder, salt in medium bowl, set aside

Beat softened butter and sugar 3-4 minutes until fluffy

Add eggs one at a time, beating well after each

Beat in vanilla and almond extract

With mixer on low, add flour in three additions alternating with milk in two

Begin and end with flour, mix just until combined

Scrape bowl, stir with spatula for even mixing

Pour batter over peaches, spread gently to cover evenly

Smooth top gently

Bake 40-50 minutes until golden and toothpick comes out clean

Cool in pan 10-15 minutes on rack

Run knife around edges, place platter over pan

Confidently flip pan and platter together

Let sit 1 minute, carefully lift pan off

Replace any stuck peaches

Serve warm or room temperature