News Release Details

MUNCIE, Ind.--(BUSINESS WIRE)--March 1, 2005--The Board of Directors of First Merchants Corporation (Nasdaq:FRME), on February 8, 2005, declared a quarterly cash dividend of $0.23.

The dividend is payable March 21, 2005, to stockholders of record March 7, 2005. For purposes of broker trading, the ex-date of the cash dividend is March 2, 2005.

About First Merchants Corporation

First Merchants Corporation is a financial holding company headquartered in Muncie, Indiana. Since its organization in 1982, the Corporation has grown to include nine affiliate banks with over 70 locations in 17 Indiana and three Ohio counties, a trust company, a multi-line insurance company, and a title company. Bank subsidiaries of the Corporation include:

-- First Merchants Bank in Delaware and Hamilton counties

-- Madison Community Bank in Madison County

-- First United Bank in Henry County

-- United Communities National Bank in Randolph, Union, Fayette,

Wayne, and Butler (OH) counties

-- First National Bank in Jay County

-- Decatur Bank & Trust Company in Adam County

-- Frances Slocum Bank in Wabash, Howard, and Miami counties

-- Lafayette Bank and Trust Company in Tippecanoe, Carroll,

Jasper, and White counties

-- Commerce National Bank in Franklin and Hamilton counties in

Ohio

The Corporation also operates First Merchants Insurance Services, a full-service property, casualty, personal lines, and health care insurer, and is the majority owner of the Indiana Title Insurance Company LLC. Merchants Trust Company unites the trust and asset management services of all affiliate banks of the Corporation and represents one of the largest trust companies in the State of Indiana, with assets in excess of $1.5 billion.

For more information, visit www.firstmerchants.com.

    CONTACT: First Merchants Corporation
             Mark K. Hardwick, 765-751-1857
             http://firstmerchants.com

    SOURCE: First Merchants Corporation