-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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MIC-Info: RSA-MD5,RSA,
 PgOGCl9Ku3OmtPdGSDguWJ/C/M9059REL/e7vYFg8BsZvGdLgjvWEFOMvQiD9jxS
 QNwdYccDDYc74LtT8ZdEXw==

<SEC-DOCUMENT>0000712534-03-000167.txt : 20030924
<SEC-HEADER>0000712534-03-000167.hdr.sgml : 20030924
<ACCEPTANCE-DATETIME>20030924123208
ACCESSION NUMBER:		0000712534-03-000167
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20030923
FILED AS OF DATE:		20030924

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			MCAULIFFE THOMAS
		CENTRAL INDEX KEY:			0001161507

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-17071
		FILM NUMBER:		03907399

	BUSINESS ADDRESS:	
		STREET 1:		100 EAST WILSON BRIDGE ROAD
		CITY:			WORTINGTON
		STATE:			OH
		ZIP:			43085
		BUSINESS PHONE:		6148488700

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>f4tm092403_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>2003-09-23</periodOfReport>
   <notSubjectToSection16>0</notSubjectToSection16>
    <issuer>
        <issuerCik>0000712534</issuerCik>
        <issuerName>FIRST MERCHANTS CORP</issuerName>
        <issuerTradingSymbol>FRME</issuerTradingSymbol>
   </issuer>
   <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001161507</rptOwnerCik>
            <rptOwnerName>MCAULIFFE THOMAS</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>100 EAST WILSON BRIDGE ROAD</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>WORTHINGTON</rptOwnerCity>
            <rptOwnerState>OH</rptOwnerState>
            <rptOwnerZipCode>43085</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>2003-09-23</value>
      </transactionDate>
      <transactionCoding>
         <transactionFormType>4</transactionFormType>
         <transactionCode>S</transactionCode>
         <equitySwapInvolved>0</equitySwapInvolved>
      </transactionCoding>
      <transactionAmounts>
         <transactionShares>
           <value>2000</value>
         </transactionShares>
         <transactionPricePerShare>
           <value>27.11</value>
         </transactionPricePerShare>
         <transactionAcquiredDisposedCode>
           <value>D</value>
         </transactionAcquiredDisposedCode>
      </transactionAmounts>
      <postTransactionAmounts>
         <sharesOwnedFollowingTransaction>
           <value>67514</value>
         </sharesOwnedFollowingTransaction>
      </postTransactionAmounts>
      <ownershipNature>
         <directOrIndirectOwnership>
            <value>D</value>
         </directOrIndirectOwnership>
      </ownershipNature>
   </nonDerivativeTransaction>
   <nonDerivativeTransaction>
      <securityTitle>
         <value>Common Stock</value>
      </securityTitle>
      <transactionDate>
         <value>2003-09-23</value>
      </transactionDate>
      <transactionCoding>
         <transactionFormType>4</transactionFormType>
         <transactionCode>S</transactionCode>
         <equitySwapInvolved>0</equitySwapInvolved>
      </transactionCoding>
      <transactionAmounts>
         <transactionShares>
           <value>2000</value>
         </transactionShares>
         <transactionPricePerShare>
           <value>27.15</value>
         </transactionPricePerShare>
         <transactionAcquiredDisposedCode>
           <value>D</value>
         </transactionAcquiredDisposedCode>
      </transactionAmounts>
      <postTransactionAmounts>
         <sharesOwnedFollowingTransaction>
           <value>65514</value>
         </sharesOwnedFollowingTransaction>
      </postTransactionAmounts>
      <ownershipNature>
         <directOrIndirectOwnership>
            <value>D</value>
         </directOrIndirectOwnership>
      </ownershipNature>
   </nonDerivativeTransaction>
 </nonDerivativeTable>
   <footnotes>
      <footnote id="F1"> Beneficially Owned Securities: 8,398. Nature of Indirect Beneficial Ownership: Cust. UGMA-Minor Sons</footnote>

      <footnote id="F2"> Derivative Securities Beneficially Owned Direct equals 4,200.</footnote>
   </footnotes>
   <ownerSignature>
      <signatureName>Larry R. Helms (Confirming Statement on File)</signatureName>
      <signatureDate>2003-09-24</signatureDate>
   </ownerSignature>
</ownershipDocument>

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