--------------------------------------------------------------------------------

EXHIBIT 23--CONSENT OF INDEPENDENT CERTIFIED PUBLIC ACCOUNTANTS
--------------------------------------------------------------------------------

We hereby consent to the incorporation by reference to Registration Statements
on Form S-8, File Numbers 33-28900 and 33-28901, of our report dated January 20,
1995 on the consolidated financial statements of First Merchants Corporation,
which report is incorporated by reference in the Annual Report on Form 10-K of
First Merchants Corporation.





/s/ Geo. S. Olive & Co. LLC

Indianapolis, Indiana
March 20, 1995


                                                                         Page 25