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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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MIC-Info: RSA-MD5,RSA,
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 D3s/mFNGACiSNdcqGBYK6Q==

<SEC-DOCUMENT>0000712534-03-000187.txt : 20031205
<SEC-HEADER>0000712534-03-000187.hdr.sgml : 20031205
<ACCEPTANCE-DATETIME>20031205094418
ACCESSION NUMBER:		0000712534-03-000187
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20031203
FILED AS OF DATE:		20031205

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			BOEHNING RICHARD A
		CENTRAL INDEX KEY:			0001170818

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-17071
		FILM NUMBER:		031039250

	MAIL ADDRESS:	
		STREET 1:		POST OFFICE BOX 792
		CITY:			MUNICE
		STATE:			IN
		ZIP:			47308-0792

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			FIRST MERCHANTS CORP
		CENTRAL INDEX KEY:			0000712534
		STANDARD INDUSTRIAL CLASSIFICATION:	NATIONAL COMMERCIAL BANKS [6021]
		IRS NUMBER:				351544218
		STATE OF INCORPORATION:			IN
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		200 E JACKSON ST
		STREET 2:		PO BOX 792
		CITY:			MUNCIE
		STATE:			IN
		ZIP:			47308-0792
		BUSINESS PHONE:		3177471500

	MAIL ADDRESS:	
		STREET 1:		200 EAST JACKSON STREET
		CITY:			MUNCIE
		STATE:			IN
		ZIP:			47305
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>f4120503_ex.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<!-- - EDGAR Ease Plus 1.0                                   07/25/03  TT    -->
<ownershipDocument>
    <schemaVersion>X0201</schemaVersion>

    <documentType>4</documentType>
   <periodOfReport>2003-12-03</periodOfReport>
   <notSubjectToSection16>0</notSubjectToSection16>
    <issuer>
        <issuerCik>0000712534</issuerCik>
        <issuerName>FIRST MERCHANTS CORP</issuerName>
        <issuerTradingSymbol>FRME</issuerTradingSymbol>
   </issuer>
   <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001170818</rptOwnerCik>
            <rptOwnerName>BOEHNING RICHARD A</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>220 SHEFFIELD ROAD</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>WEST LAFAYETTE</rptOwnerCity>
            <rptOwnerState>IN</rptOwnerState>
            <rptOwnerZipCode>47906</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
            <reportingOwnerRelationship>
         <isDirector>1</isDirector>
         <isOfficer>0</isOfficer>
         <isTenPercentOwner>0</isTenPercentOwner>
         <isOther>0</isOther>
      </reportingOwnerRelationship>
   </reportingOwner>
 <nonDerivativeTable>
   <nonDerivativeTransaction>
      <securityTitle>
         <value>Common Stock</value>
            <footnoteId id="F1"/>
            <footnoteId id="F2"/>
      </securityTitle>
      <transactionDate>
         <value>2003-12-03</value>
      </transactionDate>
      <transactionCoding>
         <transactionFormType>4</transactionFormType>
         <transactionCode>P</transactionCode>
         <equitySwapInvolved>0</equitySwapInvolved>
      </transactionCoding>
      <transactionAmounts>
         <transactionShares>
           <value>2000</value>
         </transactionShares>
         <transactionPricePerShare>
           <value>25.11</value>
         </transactionPricePerShare>
         <transactionAcquiredDisposedCode>
           <value>A</value>
         </transactionAcquiredDisposedCode>
      </transactionAmounts>
      <postTransactionAmounts>
         <sharesOwnedFollowingTransaction>
           <value>7865</value>
         </sharesOwnedFollowingTransaction>
      </postTransactionAmounts>
      <ownershipNature>
         <directOrIndirectOwnership>
            <value>D</value>
         </directOrIndirectOwnership>
      </ownershipNature>
   </nonDerivativeTransaction>
 </nonDerivativeTable>
   <footnotes>
      <footnote id="F1"> Securities owned indirect equals 5,586.  Nature of indirect beneficial ownership: TTEE U/A DTD 12/02/80 Albrecht Family Trust</footnote>

      <footnote id="F2"> Non-employee stock option-right to buy-2,315.</footnote>
   </footnotes>
   <remarks>On August 12, 2003, the Board of Directors of First Merchants Corporation declared a stock dividend payable to all holders of record of common stock on August 29, 2003 of one share of common stock for each 20 shares of common stock outstanding to be distruibuted on September 12, 2003.  Fractional shares were distributed in cash.  Pursuant to anti-dilution provisions of First Merchants Corporation's various stock option plans options previously reported were also adjusted to reflect the stock div
idend.</remarks>
   <ownerSignature>
      <signatureName>Larry R. Helms (Confirming Statement on File)</signatureName>
      <signatureDate>2003-12-05</signatureDate>
   </ownerSignature>
</ownershipDocument>

</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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