Preheat the oven to 350 degrees F. Butter a 9 x 5 baking loaf pan. Set aside.
In a medium-size bowl, mix the flour, baking powder, and salt.
Add the bacon bits and the shredded cheese. Mix until the bacon bits and cheese are coated with flour. Set aside.
In a large mixing bowl, mix the melted cooled butter, oil, and egg. Mix until combined.
Add the flour mixture to the butter/egg mixture alternating with the milk. Mixing well in between each addition.
For this step, you could use a hand mixer, but my favorite is using a Danish Dough Hook. It mixes the dough well and doesn't get messy like when using a regular whisk. A big spoon can work as well but you may have a few lumps in the dough.
Once all the ingredients are incorporated, pour the batter into the prepared pan, and bake in the preheated oven for 40 to 45 minutes. You know it is cooked when the edges are set, and a toothpick comes out clean when inserted in the middle.
Let it cool in the pan for 10 to 15 minutes then place on a cooling rack to cool completely.
Serve and enjoy!
Store leftovers in an airtight container in the refrigerator for 5 days.
Notes
Bacon bits will release more salt into the bread, so even with a ¼ teaspoon salt, don’t be tempted to add more.
I prefer to shred the cheese at home, but you can also use shredded cheese bags from the store.