A shutter assembly having a foam insert or core enveloped by a cementitious shell is provided with integrated spaced and opposed top and bottom hanger members that allow the shutter assembly to be mounted to an exterior wall of a dwelling or other structures via spaced and opposed brackets affixed to the exterior wall. The shutter assembly can be mounted to an exterior wall of a dwelling or other structure by selectively engaging the top and bottom hanger members with corresponding top and bottom bracket members mounted to the exterior wall of the dwelling or other structure.