Remove crusts from bread. Cut bread in cubes. Melt butter with olive oil in skillet over medium heat. Add garlic and saute 1 minute. Remove pan from heat; add bread cubes, stirring until well-coated with butter mixture. Cool slightly.
Combine Parmesan, oregano and thyme in heavy plastic or paper bag. Add bread cubes; toss to coat evenly with cheese mixture. Spread bread cubes in even layer on ungreased jelly roll pan. Bake at 300 degrees for 35 to 40 minutes or until lightly browned and crisp, stirring occasionally. Cool, then place in freezer storage bag; freeze until needed. Makes about 2 cups.