Banana Cream Cheese Pudding

12 vanilla wafers
8 ounces cream cheese, softened
2 tablespoons milk
2 tablespoons granulated sugar
1 teaspoon vanilla extract
2 cups thawed frozen whipped topping
2 medium bananas, sliced

Line bottom and sides of 1-quart serving bowl with wafers. Combine cream cheese, milk, sugar and vanilla extract, mixing until well blended. Fold in remaining ingredients. Spoon into bowl; chill.