This study presents a hybrid ordinary state-based Peridynamic (OSB-PD) and finite element (FE) modeling approach to simulate the dynamic evolution of shear and compaction bands in porous media. The OSB-PD equations capture the deformation and failure of the solid, while the FE equations describe fluid flow process, accounting for hydro-mechanical coupling. The simulations of compression test on dry and saturated porous specimens under undrained conditions are performed. The results reveal that the deformation pattern transitions from a pure shear band to a shear-enhanced compaction band and ultimately to a pure compaction band as the grain crushing potential approaches 1. Furthermore, a comparative analysis of dry and saturated cases indicates that fluid flow has a negligible influence on shear band formation but significantly suppresses compaction band development, particularly in low-permeability media.