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Heat oven to 350ºF.
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Spray an 8 x 8-inch baking pan with non-stick cooking spray.
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Break eggs into a large bowl; whisk until well combined.
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Add milk, sugar, vanilla and cinnamon; whisk until well combined.
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Add peanut butter; whisk until well mixed.
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Cut or tear bread into 1-inch squares and add to bowl.
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Add raisins and gently stir to mix well.
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Pour bread mixture into prepared baking pan.
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Bake until the mixture is set and the top is golden brown (about 25 minutes).
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Remove from oven and place on a baking rack to cool.
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Serve warm.