UNITED STATES SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 4
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
( ) Check this box if no longer subject to Section 16.
Form 4 or Form 5 obligations may continue. See Instructions 1(b).
1. Name and Address of Reporting Person
BRACKEN, FRANK A.
5150 PLANTATION DRIVE
INDIANAPOLIS, IN 46250
2. Issuer Name and Ticker or Trading Symbol
FIRST MERCHANTS CORPORATION
FRME
3. IRS or Social Security Number of Reporting Person (Voluntary)
###-##-####
4. Statement for Month/Year
January 1997
5. If Amendment, Date of Original (Month/Year)
6. Relationship of Reporting Person(s) to Issuer (Check all applicable)
(X) Director ( ) 10% Owner ( ) Officer (give title below) ( ) Other
(specify below)
7. Individual or Joint/Group Filing (Check Applicable Line)
(X) Form filed by One Reporting Person
( ) Form filed by More than One Reporting Person
<TABLE>
<CAPTION>
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Table I -- Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned |
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1. Title of Security |2. |3. |4.Securities Acquired (A) |5.Amount of |6.Dir |7.Nature of Indirect |
| Transaction | or Disposed of (D) | Securities |ect | Beneficial Ownership |
| | | | Beneficially |(D)or | |
| | | | | A/| | Owned at |Indir | |
| Date |Code|V| Amount | D | Price | End of Month |ect(I)| |
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<S> <C> <C> <C><C> <C> <C> <C> <C> <C>
Common Stock |01-17-|G(1)|V|365 |A | |(2) 41,470.8768 |D | |
|1997 | | | | | | | | |
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Common Stock |01-17-|G(3)|V|365 |A | |2,780 |I |Spouse |
|1997 | | | | | | | | |
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Common Stock |01-17-|G(4)|V|12,775 |D | |130,165 |I |Co-Trustee R.B. Bracken |
|1997 | | | | | | | | |
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| | | | | | | | |Rev. Trust (Mother) |
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<CAPTION>
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Table II -- Derivative Securitites Acquired, Disposed of, or Beneficially Owned |
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1.Title of Derivative |2.Con- |3. |4. |5.Number of De |6.Date Exer|7.Title and Amount |8.Price|9.Number |10.|11.Nature of|
Security |version |Transaction | rivative Secu |cisable and| of Underlying |of Deri|of Deriva |Dir|Indirect |
|or Exer | | | rities Acqui |Expiration | Securities |vative |tive |ect|Beneficial |
|cise | | | red(A) or Dis |Date(Month/| |Secu |Securities |(D)|Ownership |
|Price of| | | posed of(D) |Day/Year) | |rity |Benefi |or | |
|Deriva- | | | |Date |Expir| | |ficially |Ind| |
|tive | | | | A/|Exer-|ation| Title and Number | |Owned at |ire| |
|Secu- | | | | | D |cisa-|Date | of Shares | |End of |ct | |
|rity |Date |Code|V| Amount | |ble | | | |Month |(I)| |
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<S> <C> <C> <C> <C><C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Non-employee director | | | | | | | | | | | |1,200 |D | |
stock option (right to| | | | | | | | | | | | | | |
buy) | | | | | | | | | | | | | | |
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| | | | | | | | | | | | | | |
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</TABLE>
Explanation of Responses:
(1) Gift from mother of 365 shares (Rosemary B. Bracken Revocable
Trust)
(2) Includes 3.6452 shares acquired in September 1996 and 3.5518 shares
acquired in December 1996 under
the First Merchants Corporation dividend reinvestment
plan.
(3) Gift from mother-in-law of 365 shares (Rosemary B. Bracken Revocable
Trust)
(4) Gift of 12,775 shares from the Rosemary B. Bracken Revocable Trust to 35
relatives (365 shares each)
including 365 shares to reporting person and 365 shares to the spouse of
reporting person.
SIGNATURE OF REPORTING PERSON
Frank A. Bracken (Confirming Statement on File)
DATE
January 31, 1997
