Dice fresh peaches into small pieces and place them in a medium bowl. Drizzle 1 tablespoon of peach schnapps over the peaches, gently tossing to coat.

Preheat your oven to 300°F (150°C). Butter two 9x5-inch bread pans and dust with sugar.

In a large mixing bowl, beat together 1 cup of unsalted butter and 2 cups of granulated sugar until light and fluffy.

Stir in 2 tablespoons of peach schnapps, 1 teaspoon of vanilla extract, and 1/2 teaspoon of almond extract.

In a separate bowl, whisk together 3 cups of all-purpose flour, 1 tablespoon of baking powder, 1/2 teaspoon of salt, 1 teaspoon of cinnamon, and 1/4 teaspoon of nutmeg.

Fold a quarter of the flour mixture into the diced peaches, then mix the remaining flour mixture into the butter and egg mixture until just combined.

Divide the batter between the prepared pans and bake for 60-70 minutes.

Cool in the pans for 10 minutes, then run a knife around the edges and invert onto a wire rack.