----

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|   | Report of Independent Registered Public Accounting Firm                             1 |
|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | Financial Statements |
|--------|----------------------|

|   | Statements of Net Assets Available for Benefits                                  2 |
|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | Statements of Changes in Net Assets Available for Benefits                                                                                                                   3 |
|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | Notes to Financial Statements                                        4 |
|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | Supplemental Schedules |
|--------|------------------------|

|   | Schedule H, Line 4a - Schedule of Delinquent Participant Contributions                                                                                                   14 |
|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | Schedule H, Line 4i - Schedule of Assets (Held at End of Year)                                                                                                              15 |
|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | Signatures                                                                                                                                                                                             19 |
|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | Exhibit 23.1 - Consent of Independent Registered Public Accounting Firm |
|--------|-------------------------------------------------------------------------|

----

----

| Assets                                                   |   |   |       |   |   |   |
|----------------------------------------------------------|--------|--------|------------|--------|--------|--------|
|                                                     |   | 2009   |       |   | 2008   |   |
|                                                     |   |   |       |   |   |   |
| Investments, at fair value                               |   |   |       |   |   |   |
| Common stock                                             |   | $      | 533,127    |   |   | $      | 1,293,563 |   |
| Mutual funds                                             |   |   | 37,625,582 |   |   |   | 28,919,211 |   |
| Collective investment fund                               |   |   | 2,993,325  |   |   |   | 2,068,009 |   |
| Money market funds                                       |   |   | 4,545,153  |   |   |   | 4,197,096 |   |
| Participant loans                                        |   |   | 2,488      |   |   |   | 23,355 |   |
| Total investments                                        |   |   | 45,699,675 |   |   |   | 36,501,234 |   |
|                                                     |   |   |       |   |   |   |   |   |
| Receivables                                              |   |   |       |   |   |   |   |   |
| Accrued income                                           |   |   | 29,997     |   |   |   | 1,979 |   |
| Employer contributions                                   |   |   | 1,805,633  |   |   |   | 1,632,101 |   |
| Total receivables                                        |   |   | 1,835,630  |   |   |   | 1,634,080 |   |
|                                                     |   |   |       |   |   |   |   |   |
| Cash                                                     |   |   | 3,210      |   |   |   | 18,514 |   |
|                                                     |   |   |       |   |   |   |   |   |
| Net Assets Available for Benefits, at Fair Value         |   |   | 47,538,515 |   |   |   | 38,153,828 |   |
| Adjustment from fair value to contract value for         |   |   |       |   |   |   |   |   |
| interest in collective investment fund relating to fully |   |   |       |   |   |   |   |   |
| benefit-responsive investment contracts                  |   |   | (79,335    | )      |   |   | (8,289 | ) |
|                                                     |   |   |       |   |   |   |   |   |
| Net Assets Available for Benefits                        |   | $      | 47,459,180 |   |   | $      | 38,145,539 |   |
|                                                     |   |   |       |   |   |   |   |   |

----

|                                                         |   | 2009   |       |   | 2008   |   |
|--------------------------------------------------------------|--------|--------|------------|--------|--------|--------|
|                                                         |   |   |       |   |   |   |
| Investment Income (Loss)                                     |   |   |       |   |   |   |
| Net appreciation (depreciation) in fair value of investments |   | $      | 6,369,861  |   |   | $      | (15,326,198 | ) |
| Interest and dividends                                       |   |   | 845,014    |   |   |   | 1,479,815 |   |
| Net investment income (loss)                                 |   |   | 7,214,875  |   |   |   | (13,846,383 | ) |
|                                                         |   |   |       |   |   |   |   |   |
| Contributions                                                |   |   |       |   |   |   |   |   |
| Participants                                                 |   |   | 3,336,361  |   |   |   | 3,083,642 |   |
| Employer                                                     |   |   | 2,994,554  |   |   |   | 2,677,512 |   |
| Rollovers                                                    |   |   | 58,643     |   |   |   | 1,175,305 |   |
| Other contributions                                          |   |   | 345        |   |   |   | 1,229 |   |
|                                                         |   |   | 6,389,903  |   |   |   | 6,937,688 |   |
| Total                                                        |   |   | 13,604,778 |   |   |   | (6,908,695 | ) |
|                                                         |   |   |       |   |   |   |   |   |
| Deductions                                                   |   |   |       |   |   |   |   |   |
| Benefits paid to participants                                |   |   | 4,291,107  |   |   |   | 2,814,794 |   |
| Other expenses                                               |   |   | 30         |   |   |   | 813 |   |
| Total                                                        |   |   | 4,291,137  |   |   |   | 2,815,607 |   |
|                                                         |   |   |       |   |   |   |   |   |
| Net Increase (Decrease)                                      |   |   | 9,313,641  |   |   |   | (9,724,302 | ) |
|                                                         |   |   |       |   |   |   |   |   |
| Net Assets Available for Benefits, Beginning of Year         |   |   | 38,145,539 |   |   |   | 47,869,841 |   |
|                                                         |   |   |       |   |   |   |   |   |
| Net Assets Available for Benefits, End of Year               |   | $      | 47,459,180 |   |   | $      | 38,145,539 |   |
|                                                         |   |   |       |   |   |   |   |   |

----

| Note 1:   | Description of Plan |
|---------------------|---------------------|

| ·   | Retirement security contributions:  range from 2% of pay to 7% of pay based on years of continuous service.  The participant must have 1,000 hours of service and be employed at the end of the Plan year. |
|--------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | Matching contributions:  50% of the first 6% of employees’ eligible compensation for all participating employees. |
|--------------------|-----------------------------------------------------------------------------------------------------------------------------------|

| ·   | Transition contributions:  3% of eligible compensation for all participants who are at least age 45, credited with at least ten years of service at February 28, 2005 and were participating in the Corporation’s defined-benefit plan at February 28, 2005.  The participant must have 1,000 hours of service and be employed at the end of the Plan year.  This contribution will only be applicable through the 2009 Plan year. |
|--------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

----

| Note 2:   | Summary of Significant Accounting Policies |
|---------------------|--------------------------------------------|

----

----

| Note 3:   | Investments |
|---------------------|-------------|

|                       |               | 2009   |      |
|----------------------------|--------------------|--------|-----------|
|                       |               | Net    |      |   |   |   |
|                       | Appreciation  |   |      |   |   |
|                       | (Depreciation)     |   |      | Fair Value |   |
|                       | in Fair Value      |   |      | at End |   |
|                       | During Year        |   |      | of Year |   |
|                       |               |   |      |   |   |   |
| Common stock               |               | $      | (999,199  | ) |   | $ | 533,127 |   |
| Mutual funds               |               |   | 7,369,060 |   |   |   | 37,625,582 |   |
| Collective investment fund |               |   | -         |   |   |   | 2,993,325 |   |
| Money market fund          |               |   | -         |   |   |   | 4,545,153 |   |
| Participant loans          |               |   | -         |   |   |   | 2,488 |   |
|                       |               |   |      |   |   |   |   |   |
|                       |               | $      | 6,369,861 |   |   | $ | 45,699,675 |   |
|                       |               |   |      |   |   |   |   |   |
|                       |               |   |      |   |   |   |   |   |

----

|                       |               | 2008   |        |
|----------------------------|--------------------|--------|-------------|
|                       |               | Net    |        |   |   |   |
|                       | Appreciation  |   |        |   |   |
|                       | (Depreciation)     |   |        | Fair Value |   |
|                       | in Fair Value      |   |        | at End |   |
|                       | During Year        |   |        | of Year |   |
|                       |               |   |        |   |   |   |
| Common stock               |               | $      | 87,275      |   |   | $ | 1,293,563 |   |
| Mutual funds               |               |   | (15,413,473 | ) |   |   | 28,919,211 |   |
| Collective investment fund |               |   | -           |   |   |   | 2,068,009 |   |
| Money market fund          |               |   | -           |   |   |   | 4,197,096 |   |
| Participant loans          |               |   | -           |   |   |   | 23,355 |   |
|                       |               |   |        |   |   |   |   |   |
|                       |               | $      | (15,326,198 | ) |   | $ | 36,501,234 |   |
|                       |               |   |        |   |   |   |   |   |

|                                  |   | 2009   |      |   | 2008   |   |
|---------------------------------------|--------|--------|-----------|--------|--------|--------|
|                                  |   |   |      |   |   |   |
| PIMCO Total Return Fund               |   | $      | 3,646,236 |   |   | $      | 3,157,723 |   |
| Goldman Sachs Mid Cap Equity Fund     |   |   | 3,164,450 |   |   |   | 2,563,196 |   |
| MFS Value Fund                        |   |   | 4,100,383 |   |   |   | 3,776,078 |   |
| American Funds Amcap Fund             |   |   | 4,652,710 |   |   |   | 3,597,986 |   |
| Federated Government Obligations Fund |   |   | 4,545,153 |   |   |   | 4,197,096 |   |
| Federated Capital Preservation Fund   |   |   | 2,993,325 |   |   |   | 2,068,009 |   |
| Federated U.S. Government Fund        |   |   | -         |   |   |   | 2,116,087 |   |
| Franklin Small Cap Value Fund         |   |   | 2,704,539 |   |   |   | 1,977,331 |   |
|                                  |   |   |      |   |   |   |   |   |

----

| Note 4:   | Disclosures About Fair Value of Assets |
|---------------------|----------------------------------------|

|   | Level 1 | Quoted prices in active markets for identical assets or liabilities |
|--------|---------|---------------------------------------------------------------------|

|   | Level 2 | Observable inputs other than Level 1 prices, such as quoted prices for similar assets; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities |
|--------|---------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | Level 3 | Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities |
|--------|---------|------------------------------------------------------------------------------------------------------------------------------------------------|

----

|                       |   |   |       |   | 2009                          |   |
|----------------------------|--------|--------|------------|--------|-------------------------------|--------|
|                       |   |   |       |   | Fair Value Measurements Using |   |
|                       |   |   |       |   | Quoted Prices                 |   |   |   |   |   |   |   |
|                       |   |   |       |   | in Active                     |   |   | Significant |   |   |   |   |
|                       |   |   |       |   | Markets for                   |   |   | Other |   |   | Significant |   |
|                       |   |   |       |   | Identical                     |   |   | Observable |   |   | Unobservable |   |
|                       |   | Fair   |       |   | Assets                        |   |   | Inputs |   |   | Inputs |   |
|                       |   | Value  |       |   | (Level 1)                     |   |   | (Level 2) |   |   | (Level 3) |   |
|                       |   |   |       |   |                          |   |   |   |   |   |   |   |
| Common Stock               |   | $      | 533,127    |   |                          | $      | 533,127 |   |   | $ | - |   |   | $ | - |   |
| Mutual Funds               |   |   |       |   |                          |   |   |   |   |   |   |   |   |   |   |   |
| Bonds                      |   |   | 7,574,154  |   |                          |   | 7,574,154 |   |   |   | - |   |   |   | - |   |
| International Equities     |   |   | 3,592,822  |   |                          |   | 3,592,822 |   |   |   | - |   |   |   | - |   |
| Large Cap Equities         |   |   | 12,518,108 |   |                          |   | 12,518,108 |   |   |   | - |   |   |   | - |   |
| Lifecycle Funds            |   |   | 3,499,312  |   |                          |   | 3,499,312 |   |   |   | - |   |   |   | - |   |
| Mid-Cap Equities           |   |   | 5,542,169  |   |                          |   | 5,542,169 |   |   |   | - |   |   |   | - |   |
| Real Estate                |   |   | 495,597    |   |                          |   | 495,597 |   |   |   | - |   |   |   | - |   |
| Small-Cap Equities         |   |   | 4,403,420  |   |                          |   | 4,403,420 |   |   |   | - |   |   |   | - |   |
|                       |   |   | 37,625,582 |   |                          |   | 37,625,582 |   |   |   | - |   |   |   | - |   |
| Money Market Fund          |   |   | 4,545,153  |   |                          |   | 4,545,153 |   |   |   | - |   |   |   | - |   |
| Collective Investment Fund |   |   | 2,993,325  |   |                          |   | - |   |   |   | 2,993,325 |   |   |   | - |   |
| Participant Loans          |   |   | 2,488      |   |                          |   | - |   |   |   | - |   |   |   | 2,488 |   |
|                       |   |   |       |   |                          |   |   |   |   |   |   |   |   |   |   |   |
|                       |   | $      | 45,699,675 |   |                          | $      | 42,703,862 |   |   | $ | 2,993,325 |   |   | $ | 2,488 |   |
|                       |   |   |       |   |                          |   |   |   |   |   |   |   |   |   |   |   |

----

|                       |   |   |       |   | 2008                          |   |
|----------------------------|--------|--------|------------|--------|-------------------------------|--------|
|                       |   |   |       |   | Fair Value Measurements Using |   |
|                       |   |   |       |   | Quoted Prices                 |   |   |   |   |   |   |   |
|                       |   |   |       |   | in Active                     |   |   | Significant |   |   |   |   |
|                       |   |   |       |   | Markets for                   |   |   | Other |   |   | Significant |   |
|                       |   |   |       |   | Identical                     |   |   | Observable |   |   | Unobservable |   |
|                       |   | Fair   |       |   | Assets                        |   |   | Inputs |   |   | Inputs |   |
|                       |   | Value  |       |   | (Level 1)                     |   |   | (Level 2) |   |   | (Level 3) |   |
|                       |   |   |       |   |                          |   |   |   |   |   |   |   |
| Common Stock               |   | $      | 1,293,563  |   |                          | $      | 1,293,563 |   |   | $ | - |   |   | $ | - |   |
| Mutual Funds               |   |   | 28,919,211 |   |                          |   | 28,919,211 |   |   |   | - |   |   |   | - |   |
| Money Market Fund          |   |   | 4,197,096  |   |                          |   | 4,197,096 |   |   |   | - |   |   |   | - |   |
| Collective Investment Fund |   |   | 2,068,009  |   |                          |   | - |   |   |   | 2,068,009 |   |   |   | - |   |
| Participant Loans          |   |   | 23,355     |   |                          |   | - |   |   |   | - |   |   |   | 23,355 |   |
|                       |   |   |       |   |                          |   |   |   |   |   |   |   |   |   |   |   |
|                       |   | $      | 36,501,234 |   |                          | $      | 34,409,870 |   |   | $ | 2,068,009 |   |   | $ | 23,355 |   |
|                       |   |   |       |   |                          |   |   |   |   |   |   |   |   |   |   |   |

|                         |   | Participant |    |
|------------------------------|--------|-------------|---------|
|                         |   | Loans       |    |
|                         |   |        |    |
| Balance, January 1, 2008     |   | $           | 70,133  |   |
| Loan repayments and defaults |   |        | (46,778 | ) |
|                         |   |        |    |   |
| Balance, January 1, 2009     |   |        | 23,355  |   |
| Loan repayments and defaults |   |        | (20,867 | ) |
|                         |   |        |    |   |
| Balance, December 31, 2009   |   | $           | 2,488   |   |
|                         |   |        |    |   |

----

| Note 5:   | Party-in-Interest Transactions |
|---------------------|--------------------------------|

|                       |   | First Merchants |      |
|----------------------------|--------|-----------------|-----------|
|                       |   | Corporation     |      |
|                       |   | Common          |      |
|                       |   | Stock           |      |
|                       |   |            |      |
| Balance, January 1, 2008   |   | $               | 898,880   |   |
| Changes                    |   |            | 394,683   |   |
|                       |   |            |      |   |
| Balance, December 31, 2008 |   |            | 1,293,563 |   |
| Changes                    |   |            | (760,436  | ) |
|                       |   |            |      |   |
| Balance, December 31, 2009 |   | $               | 533,127   |   |
|                       |   |            |      |   |

| Note 6:   | Nonexempt Transactions |
|---------------------|------------------------|

----

| Note 7:   | Plan Amendments |
|---------------------|-----------------|

| Note 8:   | Significant Estimates and Concentrations |
|---------------------|------------------------------------------|

| Note 9:   | Risks and Uncertainties |
|---------------------|-------------------------|

----

| Note 10:   | Subsequent Events |
|----------------------|-------------------|

----

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|              |         |                                               |   |             |   |   |         |   |   |                |   |
|-------------------|--------------|----------------------------------------------------|--------|------------------|--------|--------|--------------|--------|--------|---------------------|--------|
|              |         |                                               |   |             |   |   | Total That   |   |   | Total Fully         |   |
|              |         |                                               |   | Participant      |   |   | Constitute   |   |   | Corrected Under     |   |
|              |         |                                               |   | Contributions    |   |   | Non-exempt   |   |   | Voluntary Fiduciary |   |
|              |         |                                               |   | Transferred Late |   |   | Prohibited   |   |   | Correction          |   |
| Identity          | Relationship | Description                                        |   | to the Plan      |   |   | Transactions |   |   | Program (VFCP)      |   |
|              |         |                                               |   |             |   |   |         |   |   |                |   |
| First Merchants   | Employer and | Employee deferral for December 29, 2008            |   | $                | 185    |   |         | $      | 2      |                |   | $ | - |   |
|  Corporation | Sponsor      | was not remitted to the Plan within the            |   |             |   |   |         |   |   |                |   |   |   |   |
|              |         | required time period established by                |   |             |   |   |         |   |   |                |   |   |   |   |
|              |         | the DOL. Remitted in February and April 2009  |   |             |   |   |         |   |   |                |   |   |   |   |
|              |         |                                               |   |             |   |   |         |   |   |                |   |   |   |   |
| First Merchants   | Employer and | January 2009 employee deferral was not remitted to |   |             | 150    |   |         |   | 8      |                |   |   | - |   |
| Corporation       | Sponsor      | the Plan within the required time period           |   |             |   |   |         |   |   |                |   |   |   |   |
|              |         | established by the DOL. Remitted in April 2010     |   |             |   |   |         |   |   |                |   |   |   |   |
|              |         |                                               |   |             |   |   |         |   |   |                |   |   |   |   |

----

| (a)(b)                                          |   | (c)              |         | (e)     |   |
|-------------------------------------------------|--------|------------------|--------------|---------|--------|
|                                            |   | Description of   |         |    |   |
| Identity of Issue,                              |   | Investment       |         |    |   |
| Borrower, Lessor or                             |   | Including Par or |         | Current |   |
| Similar Party                                   |   | Maturity Value   |         | Value   |   |
|                                            |   |             |         |    |   |   |   |
| Common Stock                                    |   |             |         |    |   |   |   |
| *First Merchants Corporation                    |   |             | 89,752       |    | shares |   | $ | 533,127 |   |
|                                            |   |             |         |    |   |   |   |   |   |
| Mutual Funds                                    |   |             |         |    |   |   |   |   |   |
| AIM Small Cap Equity Fund                       |   |             | 92,971       |    | shares |   |   | 885,087 |   |
| AIM Real Estate Fund                            |   |             | 27,890       |    | shares |   |   | 495,597 |   |
| American Funds Amcap Fund                       |   |             | 282,906      |    | shares |   |   | 4,652,710 |   |
| American Funds Europacific Fund                 |   |             | 25,429       |    | shares |   |   | 1,028,667 |   |
| American Funds High Income Trust Fund           |   |             | 98,229       |    | shares |   |   | 1,051,451 |   |
| American Funds Capital World Bond               |   |             | 26,843       |    | shares |   |   | 538,201 |   |
| Blackrock Small Cap Growth Fund                 |   |             | 75,843       |    | shares |   |   | 813,794 |   |
| Federated U.S. Government Fund                  |   |             | 199,035      |    | shares |   |   | 2,338,266 |   |
| Federated International Small-Mid Co Fund       |   |             | 23,695       |    | shares |   |   | 677,672 |   |
| Fidelity Advisor Diversified International Fund |   |             | 56,239       |    | shares |   |   | 826,707 |   |
| Fidelity Advisor Freedom 2010 Fund              |   |             | 31,641       |    | shares |   |   | 331,909 |   |
| Fidelity Advisor Freedom 2015 Fund              |   |             | 46,895       |    | shares |   |   | 491,650 |   |
| Fidelity Advisor Freedom 2020 Fund              |   |             | 61,852       |    | shares |   |   | 667,997 |   |
| Fidelity Advisor Freedom 2025 Fund              |   |             | 48,360       |    | shares |   |   | 440,702 |   |
| Fidelity Advisor Freedom 2030 Fund              |   |             | 56,616       |    | shares |   |   | 612,016 |   |
| Fidelity Advisor Freedom 2035 Fund              |   |             | 30,892       |    | shares |   |   | 314,174 |   |
| Fidelity Advisor Freedom 2040 Fund              |   |             | 30,746       |    | shares |   |   | 334,210 |   |
| Fidelity Advisor Freedom 2045 Fund              |   |             | 16,152       |    | shares |   |   | 135,996 |   |
| Fidelity Advisor Freedom 2050 Fund              |   |             | 17,005       |    | shares |   |   | 170,658 |   |
| First American Mid Cap Growth Opportunity Fund  |   |             | 40,188       |    | shares |   |   | 1,259,889 |   |
| First American Equity Index Fund                |   |             | 78,113       |    | shares |   |   | 1,584,218 |   |
| First American Mid Cap Index Fund               |   |             | 107,291      |    | shares |   |   | 1,117,830 |   |
| Franklin Small Cap Value Fund                   |   |             | 77,339       |    | shares |   |   | 2,704,539 |   |
| Goldman Sachs Mid Cap Equity Fund               |   |             | 110,298      |    | shares |   |   | 3,164,450 |   |
| MFS Value Fund                                  |   |             | 198,855      |    | shares |   |   | 4,100,383 |   |
| MFS Massachusetts Investors Trust Fund          |   |             | 129,578      |    | shares |   |   | 2,180,797 |   |
| PIMCO Total Return Fund                         |   |             | 331,426      |    | shares |   |   | 3,646,236 |   |
| Templeton Foreign Fund                          |   |             | 157,029      |    | shares |   |   | 1,059,776 |   |
|                                            |   |             |         |    |   |   |   | 37,625,582 |   |
| Collective Investment Fund                      |   |             |         |    |   |   |   |   |   |
| Federated Capital Preservation Fund             |   |             | 283,685      |    | units  |   |   | 2,993,325 |   |
|                                            |   |             |         |    |   |   |   |   |   |
| Money Market Fund                               |   |             |         |    |   |   |   |   |   |
| Federated Government Obligations Fund           |   |             | 4,545,153    |    | shares |   |   | 4,545,153 |   |
|                                            |   |             |         |    |   |   |   |   |   |
| *Participant Loans                              |   |             | 5.0% - 6.25% |    |   | 2,488 |   |
|                                            |   |             |         |    |   |   |   |   |   |
|                                            |   |             |         |    |   |   | $ | 45,699,675 |   |
|                                            |   |             |         |    |   |   |   |   |   |

|   | *Party-in-interest |
|--------|--------------------|

----

|                      | First Merchants Corporation Retirement Income and Savings Plan                                        |   |
|---------------------------|------------------------------------------------------------------------------------------------------------|--------|
| Date: June 25, 2010  | /s/ Mark K. Hardwick                                                                                       |   |
|                      | Mark K. Hardwick                                                                                           |   |
|                      | Executive Vice President and Chief Financial Officer(Principal Financial and Principal Accounting Officer) |   |

----