Here's some additional info about the 54b you may be interested in. It was designed and built by Wain Roy, but marketed and sold through Sherman. There is a recently-published book "Wain-Roy and the Invention of the Backhoe" by Lee A. Horton and David C. Willens that makes mention of the 54b. Below is a two page excerpt.
Also the successor to the 54b was the 54c which was similar but improved. Ford sold its version of the 54c as the C8 and parts diagrams are still available online through New Holland. Link below if you want to take a look.