Preheat the oven to 350 F and grease a standard loaf pan well. Whisk the flour, baking powder, baking soda, salt, and nutmeg together in one bowl.
In a second bowl, mix the melted butter, sugar, eggs, sour cream, and vanilla until smooth. Stir the dry ingredients into the wet mixture just until no flour streaks remain.
Scrape the batter into the pan and smooth the top. Bake for about 45 to 55 minutes, until the center is set and a tester comes out with only a few moist crumbs.
Let the loaf rest for about 10 minutes before lifting it from the pan. While it is still warm, brush the top with melted butter and dust generously with powdered sugar.
Cool slightly before slicing and serve with extra powdered sugar if desired.