EXHIBIT 23--CONSENT OF INDEPENDENT CERTIFIED PUBLIC ACCOUNTANTS  
- --------------------------------------------------------------------------------
We hereby consent to the incorporation by reference to Registration 
Statements on Form S-8, File Number 33-28900 and 33-28901, of our report 
dated January 23, 1998, 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 22, 1998