In a medium saucepan, melt a tablespoon of butter over low heat, then sprinkle in two tablespoons of all-purpose flour. Cook while stirring constantly for about 2-3 minutes until light golden.

Slowly whisk in two cups of whole milk, continuing to stir to prevent lumps. Increase heat to medium and cook for another 3-5 minutes until thickened.

Reduce heat to low and gradually add one cup each of shredded sharp cheddar cheese and Monterey Jack, stirring gently until melted for about 2-3 minutes.

Fold in one cup of finely chopped banana peppers and one cup of drained canned tomatoes. Simmer for 2-3 minutes until heated through.

Sprinkle in salt and optional spices to taste, stirring for about a minute for even flavor.

Transfer to a serving bowl and enjoy warm with tortilla chips or fresh veggies.