UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                    FORM 13F

                               FORM 13F COVER PAGE

Report for the Calendar Year or Quarter Ended:  March 31, 2004

Check here if Amendment [ ]; Amendment Number:
This Amendment (Check only one.): [  ] is a restatement.
                                  [  ] adds new holdings entries.

Institutional Investment Manager Filing this Report:

Name:             FIRST MERCHANTS BANK, N.A.
Address:          200 EAST JACKSON STREET
                  MUNCIE, IN   47305

13F File Number:  28-2360

The institutional  investment  manager filing this report and the person by whom
it is signed hereby  represent  that the person signing the report is authorized
to  submit  it,  that all  information  contained  herein is true,  correct  and
complete,  and  that it is  understood  that  all  required  items,  statements,
schedules, lists, and tables, are considered integral parts of this form.

Person signing this Report on Behalf of Reporting Manager:

Name:             Terry Blaker
Title:            Vice President
Phone:            (765) 747-1570

Signature, Place, and Date of Signing:

                  Terry Blaker          Muncie, IN        April 14, 2004

Report Type (Check only one.):

[X]    13F HOLDING REPORT.
[ ]    13F NOTICE.
[ ]    COMBINATION REPORT.


<PAGE>
                              FORM 13F SUMMARY PAGE

Report Summary:

Number of Other Included Managers:  None

Form 13F Information Table Entry Total: 194

Form 13F Information Table Value Total: $352,737,000


List of Other Included Managers:

None

<PAGE>


<TABLE>
<CAPTION>

                                                                  FORM 13F INFORMATION TABLE
                                                           VALUE   SHARES/  SH/ PUT/ INVSTMT    OTHER          VOTING AUTHORITY
        NAME OF ISSUER         TITLE OF CLASS     CUSIP   (X$1000) PRN AMT  PRN CALL DSCRETN   MANAGERS     SOLE    SHARED    NONE
------------------------------ ---------------- --------- -------- -------- --- ---- ------- ------------ -------- -------- --------
<S>                              <C>            <C>          <C>     <C>             <C>                     <C>       <C>     <C>

INGERSOLL RAND CL A                 COM         G4776G101     6419    94900 SH       SOLE                    93450     1350      100
INGERSOLL RAND CL A                 COM         G4776G101      250     3700 SH       DEFINED                  3700        0        0
ABBOTT LABS                         COM         002824100     2963    72113 SH       SOLE                    70713      700      700
ABBOTT LABS                         COM         002824100      263     6416 SH       DEFINED                  5816        0      600
ALCOA INC                           COM         013817101      925    26700 SH       SOLE                    26350      350        0
ALCOA INC                           COM         013817101        3      100 SH       DEFINED                   100        0        0
ALTRIA GROUP INC                    COM         02209S103      375     6900 SH       SOLE                     5900      400      600
ALTRIA GROUP INC                    COM         02209S103      163     3000 SH       DEFINED                  3000        0        0
AMERICAN INTERNATIONAL GRP          COM         026874107    11136   156083 SH       SOLE                   154567     1236      280
AMERICAN INTERNATIONAL GRP          COM         026874107      507     7109 SH       DEFINED                  7109        0        0
AMGEN INC                           COM         031162100      249     4287 SH       SOLE                     4287        0        0
AMGEN INC                           COM         031162100        6      120 SH       DEFINED                   120        0        0
AUTOMATIC DATA PROCESSING           COM         053015103     6018   143297 SH       SOLE                   142097     1000      200
AUTOMATIC DATA PROCESSING           COM         053015103      136     3250 SH       DEFINED                  3250        0        0
AVERY DENNISON CORP                 COM         053611109     3166    50905 SH       SOLE                    50455      400       50
AVERY DENNISON CORP                 COM         053611109       37      600 SH       DEFINED                   600        0        0
BP PLC - SPONS                      ADR         055622104     6451   126002 SH       SOLE                   122052     1150     2800
BP PLC - SPONS                      ADR         055622104     1243    24281 SH       DEFINED                  8868      328    15085
BALL CORP                           COM         058498106     7327   108126 SH       SOLE                   107926      200        0
BANK OF AMERICA CORP NEW            COM         060505104     5337    65924 SH       SOLE                    65424      100      400
BANK OF AMERICA CORP NEW            COM         060505104      192     2375 SH       DEFINED                  2175        0      200
BANK ONE CORPORATION                COM         06423A103     9267   169986 SH       SOLE                   169326      360      300
BANK ONE CORPORATION                COM         06423A103      590    10834 SH       DEFINED                  8534        0     2300
BAXTER INTERNATIONAL INC            COM         071813109      355    11505 SH       SOLE                    11305      100      100
BAXTER INTERNATIONAL INC            COM         071813109       27      900 SH       DEFINED                   900        0        0
BELLSOUTH CORP                      COM         079860102     3146   113679 SH       SOLE                   112479      800      400
BELLSOUTH CORP                      COM         079860102      215     7800 SH       DEFINED                  4000        0     3800
BRISTOL-MYERS SQUIBB                COM         110122108     2987   123363 SH       SOLE                   121663      700     1000
BRISTOL-MYERS SQUIBB                COM         110122108      146     6040 SH       DEFINED                  6040        0        0
CATERPILLAR INC.                    COM         149123101      466     5904 SH       SOLE                     5854       50        0
CATERPILLAR INC.                    COM         149123101       63      800 SH       DEFINED                   800        0        0
CHEVRON TEXACO CORP                 COM         166764100     8487    96691 SH       SOLE                    94284      825     1582
CHEVRON TEXACO CORP                 COM         166764100      237     2706 SH       DEFINED                  2706        0        0
CISCO SYSTEMS                       COM         17275R102     2544   108004 SH       SOLE                   106204     1600      200
CISCO SYSTEMS                       COM         17275R102       48     2050 SH       DEFINED                  2050        0        0
CITIGROUP INC                       COM         172967101     2492    48210 SH       SOLE                    46727      633      850
CITIGROUP INC                       COM         172967101      125     2425 SH       DEFINED                  2125        0      300
CLOROX CO                           COM         189054109      320     6550 SH       SOLE                     6550        0        0
CLOROX CO                           COM         189054109       58     1200 SH       DEFINED                  1200        0        0
COCA COLA CO                        COM         191216100     2204    43831 SH       SOLE                    42931        0      900
COCA COLA CO                        COM         191216100      150     3000 SH       DEFINED                  3000        0        0
COLGATE PALMOLIVE CO                COM         194162103     1428    25934 SH       SOLE                    25884       50        0
COLGATE PALMOLIVE CO                COM         194162103      121     2200 SH       DEFINED                   600        0     1600
CONOCOPHILLIPS                      COM         20825C104     1710    24505 SH       SOLE                    24105      400        0
CONOCOPHILLIPS                      COM         20825C104      111     1600 SH       DEFINED                  1600        0        0
DNP SELECT INCOME FUND                          23325P104     1632   143200 SH       SOLE                   137370     3230     2600
DNP SELECT INCOME FUND                          23325P104       45     4000 SH       DEFINED                  4000        0        0
DPL INC                             COM         233293109      355    18975 SH       SOLE                    18975        0        0
DEERE & CO                          COM         244199105      894    12900 SH       SOLE                    12900        0        0
DEERE & CO                          COM         244199105       13      200 SH       DEFINED                   200        0        0
DELL INC                            COM         24702R101     1531    45575 SH       SOLE                    44875      600      100
DELL INC                            COM         24702R101       40     1200 SH       DEFINED                  1200        0        0
DIAMOND HILL INVT GROUP             COM         25264R207      299    33268 SH       SOLE                    33268        0        0
DISNEY WALT COMPANY                 COM         254687106     3699   148080 SH       SOLE                   147730      150      200
DISNEY WALT COMPANY                 COM         254687106       49     2000 SH       DEFINED                  2000        0        0
DOW CHEM CO                         COM         260543103     2103    52226 SH       SOLE                    52126        0      100
DOW CHEM CO                         COM         260543103       72     1800 SH       DEFINED                   900        0      900
DU PONT E I DE NEMOURS              COM         263534109      427    10130 SH       SOLE                    10080       50        0
DU PONT E I DE NEMOURS              COM         263534109       21      500 SH       DEFINED                   500        0        0
EMERSON ELEC CO                     COM         291011104     5707    95248 SH       SOLE                    94498      500      250
EMERSON ELEC CO                     COM         291011104      347     5800 SH       DEFINED                  5800        0        0
EXXON MOBIL CORP                    COM         30231G102     9369   225290 SH       SOLE                   219778     2492     3020
EXXON MOBIL CORP                    COM         30231G102      393     9472 SH       DEFINED                  7952      528      992
FANNIE MAE                          COM         313586109      738     9933 SH       SOLE                     9833       50       50
FANNIE MAE                          COM         313586109       22      300 SH       DEFINED                   300        0        0
FIFTH-THIRD BANCORP                 COM         316773100      343     6201 SH       SOLE                     6201        0        0
FIRST MERCHANTS CORP                COM         320817109    23017   957480 SH       SOLE                   905533    10989    40958
FIRST MERCHANTS CORP                COM         320817109     2746   114254 SH       DEFINED                113474        0      780
GANNETT COMPANY INC                 COM         364730101     2697    30605 SH       SOLE                    30505        0      100
GANNETT COMPANY INC                 COM         364730101       55      625 SH       DEFINED                   425        0      200
GENERAL ELEC CO                     COM         369604103    12903   422785 SH       SOLE                   417035     3150     2600
GENERAL ELEC CO                     COM         369604103      950    31150 SH       DEFINED                 25450        0     5700
GENERAL MTRS CORP                   COM         370442105      311     6605 SH       SOLE                     6255        0      350
GENERAL MTRS CORP                   COM         370442105        9      200 SH       DEFINED                   200        0        0
GILLETTE CO                         COM         375766102      571    14630 SH       SOLE                    14530      100        0
GILLETTE CO                         COM         375766102       39     1000 SH       DEFINED                  1000        0        0
GOLDEN WEST FINL CORP DEL           COM         381317106      268     2400 SH       SOLE                     2400        0        0
HARSCO CORP                         COM         415864107      896    19700 SH       SOLE                    19700        0        0
HEINZ H J CO                        COM         423074103      259     6950 SH       SOLE                     6950        0        0
HEWLETT PACKARD CO                  COM         428236103     3496   153098 SH       SOLE                   151019     1563      516
HEWLETT PACKARD CO                  COM         428236103      211     9248 SH       DEFINED                  9248        0        0
HOME DEPOT INC                      COM         437076102      658    17638 SH       SOLE                    17438      100      100
HOME DEPOT INC                      COM         437076102       41     1100 SH       DEFINED                  1100        0        0
HONEYWELL INTL INC                  COM         438516106      177     5250 SH       SOLE                     5250        0        0
HONEYWELL INTL INC                  COM         438516106       40     1200 SH       DEFINED                  1200        0        0
HUNTINGTON BANCSHARES INC           COM         446150104      243    11044 SH       SOLE                    11044        0        0
HUNTINGTON BANCSHARES INC           COM         446150104      212     9664 SH       DEFINED                  9664        0        0
ILLINOIS TOOL WORKS INC             COM         452308109      573     7245 SH       SOLE                     7245        0        0
INTEL CORP                          COM         458140100     9391   345259 SH       SOLE                   340539     4120      600
INTEL CORP                          COM         458140100      537    19751 SH       DEFINED                 19751        0        0
INTL BUSINESS MACHINES CORP         COM         459200101     4663    50775 SH       SOLE                    49275      650      850
INTL BUSINESS MACHINES CORP         COM         459200101      147     1609 SH       DEFINED                  1609        0        0
J P MORGAN CHASE & CO               COM         46625H100     3297    78610 SH       SOLE                    77865       75      670
J P MORGAN CHASE & CO               COM         46625H100      387     9235 SH       DEFINED                  2635        0     6600
JARDEN CORPORATION                  COM         471109108      243     6870 SH       SOLE                     6870        0        0
JOHNSON & JOHNSON                   COM         478160104     8363   164895 SH       SOLE                   162445     1650      800
JOHNSON & JOHNSON                   COM         478160104      730    14400 SH       DEFINED                 14000        0      400
JOHNSON CTLS INC                    COM         478366107      399     6750 SH       SOLE                     6750        0        0
JOHNSON CTLS INC                    COM         478366107       29      500 SH       DEFINED                   500        0        0
KELLOGG CO                          COM         487836108      288     7360 SH       SOLE                     7360        0        0
KIMBERLY CLARK CORP                 COM         494368103     5085    80589 SH       SOLE                    79889      500      200
KIMBERLY CLARK CORP                 COM         494368103       85     1350 SH       DEFINED                  1350        0        0
LANCASTER COLONY CORP               COM         513847103      354     8775 SH       SOLE                     8775        0        0
LILLY ELI & CO                      COM         532457108     8106   121179 SH       SOLE                   117724     1655     1800
LILLY ELI & CO                      COM         532457108      611     9134 SH       DEFINED                  9134        0        0
LINCOLN NATL CORP IND               COM         534187109      285     6025 SH       SOLE                     5902      123        0
LINCOLN NATL CORP IND               COM         534187109       66     1400 SH       DEFINED                  1400        0        0
LOWE'S COMPANIES INC                COM         548661107     5692   101410 SH       SOLE                    98935     2475        0
LOWE'S COMPANIES INC                COM         548661107       77     1380 SH       DEFINED                  1380        0        0
MARSH & MCLENNAN COS INC            COM         571748102      312     6750 SH       SOLE                     6550      200        0
MARSH SUPERMARKETS INC CL B         COM         571783208     1717   137945 SH       SOLE                   137945        0        0
MARSH SUPERMARKETS INC CL A         COM         571783307     3803   291251 SH       SOLE                   291251        0        0
MASCO CORP                          COM         574599106     1702    55933 SH       SOLE                    55433      500        0
MASCO CORP                          COM         574599106       69     2300 SH       DEFINED                  2300        0        0
MAY DEPARTMENT STORES               COM         577778103     1845    53373 SH       SOLE                    53373        0        0
MAY DEPARTMENT STORES               COM         577778103      145     4200 SH       DEFINED                  4200        0        0
MCDONALDS CORP                      COM         580135101     2735    95795 SH       SOLE                    94295     1300      200
MCDONALDS CORP                      COM         580135101      168     5900 SH       DEFINED                  5900        0        0
MCGRAW HILL COS INC                 COM         580645109     1943    25535 SH       SOLE                    25135      400        0
MCGRAW HILL COS INC                 COM         580645109       15      200 SH       DEFINED                   200        0        0
MEDTRONIC INCORPORATED              COM         585055106      697    14605 SH       SOLE                    14605        0        0
MERCK & CO INC                      COM         589331107     4368    98881 SH       SOLE                    97481      900      500
MERCK & CO INC                      COM         589331107      372     8422 SH       DEFINED                  8422        0        0
MERRILL LYNCH & CO INC              COM         590188108     1230    20660 SH       SOLE                    20660        0        0
MERRILL LYNCH & CO INC              COM         590188108       47      800 SH       DEFINED                   800        0        0
MICROSOFT CORPORATION               COM         594918104     7141   286472 SH       SOLE                   283772     2200      500
MICROSOFT CORPORATION               COM         594918104      341    13700 SH       DEFINED                 13700        0        0
MONROE BANCORP                      COM         610313108      165    10260 SH       SOLE                    10260        0        0
MORGAN STANLEY DEAN WITTER          COM         617446448      422     7374 SH       SOLE                     7324       50        0
MOTOROLA INC                        COM         620076109      108     6150 SH       SOLE                     6150        0        0
MOTOROLA INC                        COM         620076109       92     5250 SH       DEFINED                  5250        0        0
NATIONAL CITY CORP                  COM         635405103     2023    56882 SH       SOLE                    26882        0    30000
NEWELL RUBBERMAID INC               COM         651229106      493    21278 SH       SOLE                    20678      600        0
NEWELL RUBBERMAID INC               COM         651229106       18      800 SH       DEFINED                   800        0        0
NISOURCE INC                        COM         65473P105      196     9241 SH       SOLE                     9241        0        0
NISOURCE INC                        COM         65473P105       42     2000 SH       DEFINED                  2000        0        0
NORTHROP GRUMMAN CORP               COM         666807102     1463    14875 SH       SOLE                    14875        0        0
NORTHROP GRUMMAN CORP               COM         666807102       31      321 SH       DEFINED                   321        0        0
NUVEEN MUN VALUE FD INC             COM         670928100      134    14133          SOLE                    14133        0        0
OLD NATIONAL BANCORP                COM         680033107     2144    94917 SH       SOLE                    94917        0        0
OLD NATIONAL BANCORP                COM         680033107      117     5189 SH       DEFINED                  5189        0        0
OMNICOM GROUP INC                   COM         681919106      268     3350 SH       SOLE                     3300       50        0
OMNICOM GROUP INC                   COM         681919106       32      400 SH       DEFINED                   400        0        0
PEPSICO INC                         COM         713448108     7968   147996 SH       SOLE                   144696      700     2600
PEPSICO INC                         COM         713448108      482     8965 SH       DEFINED                  8965        0        0
PFIZER INC                          COM         717081103     4089   116696 SH       SOLE                   112576     1370     2750
PFIZER INC                          COM         717081103      133     3810 SH       DEFINED                  2610     1200        0
PITNEY BOWES INC                    COM         724479100      946    22211 SH       SOLE                    22211        0        0
PITNEY BOWES INC                    COM         724479100       42     1000 SH       DEFINED                  1000        0        0
PROCTER & GAMBLE CO                 COM         742718109     6939    66166 SH       SOLE                    65566      500      100
PROCTER & GAMBLE CO                 COM         742718109      351     3350 SH       DEFINED                  1850        0     1500
SBC COMMUNICATIONS INC              COM         78387G103     2813   114635 SH       SOLE                   112785     1400      450
SBC COMMUNICATIONS INC              COM         78387G103      243     9924 SH       DEFINED                  3192        0     6732
SARA LEE CORP                       COM         803111103     4161   190369 SH       SOLE                   188269     2100        0
SARA LEE CORP                       COM         803111103      209     9600 SH       DEFINED                  9600        0        0
SCHLUMBERGER LTD                    COM         806857108     4760    74555 SH       SOLE                    73530      825      200
SCHLUMBERGER LTD                    COM         806857108      130     2050 SH       DEFINED                  2050        0        0
SOUTHERN CO                         COM         842587107     1956    64140 SH       SOLE                    61040       50     3050
SOUTHERN CO                         COM         842587107      108     3550 SH       DEFINED                  3550        0        0
SOUTHTRUST CORP                     COM         844730101      972    29333 SH       SOLE                    28933      400        0
SOUTHTRUST CORP                     COM         844730101        9      300 SH       DEFINED                   300        0        0
STAPLES INC                         COM         855030102      665    26300 SH       SOLE                    26200      100        0
STAPLES INC                         COM         855030102       15      600 SH       DEFINED                   600        0        0
SUNGARD DATA SYSTEMS INC            COM         867363103     1266    46255 SH       SOLE                    44055     2200        0
SUNGARD DATA SYSTEMS INC            COM         867363103        5      200 SH       DEFINED                   200        0        0
SYSCO CORP                          COM         871829107     8859   226937 SH       SOLE                   225437     1000      500
SYSCO CORP                          COM         871829107      374     9600 SH       DEFINED                  9600        0        0
TECO ENERGY                         COM         872375100      177    12120 SH       DEFINED                  5120        0     7000
TARGET CORP                         COM         87612E106     3243    72012 SH       SOLE                    71562      150      300
TARGET CORP                         COM         87612E106       72     1600 SH       DEFINED                  1600        0        0
TEXAS INSTRS INC                    COM         882508104      208     7150 SH       SOLE                     7150        0        0
TEXAS INSTRS INC                    COM         882508104       29     1000 SH       DEFINED                  1000        0        0
UNION PLANTERS CORPORATION          COM         908068109      328    11000 SH       DEFINED                 11000        0        0
UNITED TECHNOLOGIES CORP            COM         913017109     8844   102484 SH       SOLE                   101334      950      200
UNITED TECHNOLOGIES CORP            COM         913017109      116     1350 SH       DEFINED                  1350        0        0
UNITRIN INC                         COM         913275103      214     5000 SH       SOLE                     5000        0        0
VECTREN CORP                        COM         92240G101     2296    93122 SH       SOLE                    87983     2439     2700
VECTREN CORP                        COM         92240G101      145     5882 SH       DEFINED                  4817        0     1065
VERIZON COMMUNICATIONS INC          COM         92343V104     4988   136537 SH       SOLE                   133353     2562      622
VERIZON COMMUNICATIONS INC          COM         92343V104      403    11052 SH       DEFINED                  6746      366     3940
WACHOVIA CORP 2ND NEW               COM         929903102     1459    31057 SH       SOLE                    29907     1000      150
WACHOVIA CORP 2ND NEW               COM         929903102      211     4500 SH       DEFINED                  4500        0        0
WAL MART STORES INC                 COM         931142103     7612   127562 SH       SOLE                   126382     1180        0
WAL MART STORES INC                 COM         931142103      516     8650 SH       DEFINED                  8650        0        0
WALGREEN COMPANY                    COM         931422109      369    11221 SH       SOLE                    11121      100        0
WALGREEN COMPANY                    COM         931422109       19      600 SH       DEFINED                   600        0        0
WASHINGTON MUTUAL INC               COM         939322103     1442    33792 SH       SOLE                    32992      350      450
WASHINGTON MUTUAL INC               COM         939322103       89     2100 SH       DEFINED                  1500        0      600
WELLS FARGO & CO  (NEW)             COM         949746101     7562   133447 SH       SOLE                   132397      750      300
WELLS FARGO & CO  (NEW)             COM         949746101      178     3150 SH       DEFINED                  2750        0      400
WEYERHAEUSER CO                     COM         962166104     4502    68743 SH       SOLE                    68343      300      100
WEYERHAEUSER CO                     COM         962166104       72     1100 SH       DEFINED                  1100        0        0
WYETH                               COM         983024100     5873   156464 SH       SOLE                   153664      600     2200
WYETH                               COM         983024100      108     2900 SH       DEFINED                   500        0     2400

 GRAND TOTALS                                               352737  9012609                                8759043    76274   177292
</TABLE>