Preheat oven to 425°F. Line a baking sheet with parchment paper or foil.
Cut the bread into half lengthwise. Place on the baking sheet.
Melt butter and olive oil in a small saucepan. Add the minced garlic cloves and parsley. Heat till the butter has melted and starts to smell fragrant.
Brush the cut sides of the bread generously with garlic butter. Season with salt and pepper. Close the bread and slice crosswise, making sure not to cut the loaf all the way through. This will help in cutting the bread after baking.
Tightly wrap the bread with the parchment paper or foil and bake for 10 minutes. Open the foil or parchment and bake for another 3~4 minutes or until nice and toasty.
Remove from the oven and cut into pieces and serve.