Preheat the oven to 350°. Prepare a 9 inch loaf pan by spraying with a nonstick baking spray.
Remove the pits from cherries and slice cherries in half. Gently dry the cherries with a paper towel to absorb any excess cherry juice.
Mix the cherries with 1 tablespoon of the flour so that the cherries are evenly coated in flour.
Combine the flour, baking powder, baking soda and salt in a small mixing bowl.
Using your stand or a handheld mixer and a large mixing bowl, cream butter and sugar together until light and fluffy.
Add the eggs, sour cream, buttermilk, vanilla extract and almond extract. Mix until well combined.
Gently fold the flour mixture into the wet ingredients.
Fold the cherries into the batter.
Spread half of the cake batter into your prepared 9 inch loaf pan. Spread a layer of cherry jam over the batter.
Cover jam with the remaining cake batter.
Bake loaf cake at 350° for 55-60 minutes.
Allow loaf to cool in the pan for 10-15 minutes. Remove loaf from the pan and cool completely.