Meanwhile, pit and slice your peaches into wedges. Chop your tomatoes into one-inch pieces. Transfer the peaches and tomatoes to a colander fitted over a bowl. Sprinkle them with salt and allow the fruit juices to collect in the bowl.
Remove the colander and whisk in the extra virgin olive oil, balsamic vinegar, and season with salt and pepper. In a large bowl combine the tomatoes and peaches, along with the red onion, and sliced basil. Add the toasted bread cubes and vinaigrette, tossing to coat.
Allow the panzanella salad to rest for 30 minutes before serving, tossing the salad occasionally if you can. Season with salt and pepper and a little bit more fresh basil before serving.