Is there a way to hide "Bob became a fan of Bananas" from my Facebook Home Page without hiding the person?

No. Unfortunately, you can only hide a person or an application/game.

You don’t love bananas? What’s wrong with you?

facebook lite

Run your cursor in the top-right hand side of the post. When you see ‘hide’ click on it. It’ll show that you can either hide the person or the app. Click on “hide bananas”. That’ll stop the app, not the person.

@jbfletcherfan you bet me to it!

Sorry. :-/

@bvdshec17 Oh that sucks. Thanks.

@jbfletcherfan Unfortunately that doesn’t work. You can only hide 3rd party Facebook apps.

Here is a review of facebook lite. It blocks all games, but you can set it up to toggle back and forth.
http://www.pcworld.com/businesscenter/article/171839/facebook_lite_thanks_but_no_apps.html

Are you embarrassed for your love of that delicious and nutritious fruit?!