<ARTICLE> 9
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM FIRST
MERCHANTS CORPORATION'S CONSOLIDATED CONDENSED FINANCIAL STATEMENTS (UNAUDITED)
FOR QUARTER ENDED MARCH 31, 1997 AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE
TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
       
                             
<PERIOD-TYPE>                   3-MOS
<FISCAL-YEAR-END>                          DEC-31-1997
<PERIOD-START>                             JAN-01-1997
<PERIOD-END>                               MAR-31-1997
<CASH>                                          35,020
<INT-BEARING-DEPOSITS>                             371
<FED-FUNDS-SOLD>                                 1,560
<TRADING-ASSETS>                                     0
<INVESTMENTS-HELD-FOR-SALE>                    230,973
<INVESTMENTS-CARRYING>                          42,442
<INVESTMENTS-MARKET>                            42,382
<LOANS>                                        652,926
<ALLOWANCE>                                      6,883
<TOTAL-ASSETS>                                 987,831
<DEPOSITS>                                     781,893
<SHORT-TERM>                                    71,626
<LIABILITIES-OTHER>                              8,072
<LONG-TERM>                                     12,450
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<COMMON>                                           827
<OTHER-SE>                                     112,963
<TOTAL-LIABILITIES-AND-EQUITY>                 987,831
<INTEREST-LOAN>                                 13,822
<INTEREST-INVEST>                                3,988
<INTEREST-OTHER>                                    74
<INTEREST-TOTAL>                                17,884
<INTEREST-DEPOSIT>                               7,502
<INTEREST-EXPENSE>                               8,343
<INTEREST-INCOME-NET>                            9,541
<LOAN-LOSSES>                                      287
<SECURITIES-GAINS>                                  10
<EXPENSE-OTHER>                                  6,206
<INCOME-PRETAX>                                  5,180
<INCOME-PRE-EXTRAORDINARY>                       3,429
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                     3,429
<EPS-PRIMARY>                                      .52
<EPS-DILUTED>                                      .52
<YIELD-ACTUAL>                                       0
<LOANS-NON>                                          0
<LOANS-PAST>                                         0
<LOANS-TROUBLED>                                     0
<LOANS-PROBLEM>                                      0
<ALLOWANCE-OPEN>                                     0
<CHARGE-OFFS>                                        0
<RECOVERIES>                                         0
<ALLOWANCE-CLOSE>                                    0
<ALLOWANCE-DOMESTIC>                                 0
<ALLOWANCE-FOREIGN>                                  0
<ALLOWANCE-UNALLOCATED>                              0