Begin by preheating your oven to 375°F (190°C). Grease a 12-cup muffin tin or fit it with paper liners.
In a large bowl, whisk together the 1 ½ cups oats, flour, sugar, baking powder, baking soda, salt, cinnamon, and nutmeg.
Grab a separate small bowl to whisk the egg, oil, and vanilla extract until well combined.
Pour the wet ingredients into the dry ingredients, stirring with a spatula just until moistened. The batter will be quite thick.
Gently fold in the mashed bananas until no dry flour streaks are visible. Avoid overmixing.
For the streusel, mix the ½ cup of oats, ¼ teaspoon of cinnamon, brown sugar, and melted butter in a small bowl until crumbly.
Distribute the batter evenly into the prepared muffin cups and sprinkle the streusel mixture over the top of each.
Bake for 18 to 20 minutes, or until a toothpick inserted into the center comes out clean. Let the muffins cool in the tin for a few moments before moving them to a wire rack.