EXHIBIT 24 - FORM 10-K, LIMITED POWER OF ATTORNEY
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KNOW ALL MEN BY THESE  PRESENTS that the  undersigned  directors and officers of
First  Merchants  Corporation,  an Indiana  corporation,  hereby  constitute and
appoint James L. Thrash, the true and lawful agent and  attorney-in-fact  of the
undersigned with full power and authority in said agent and  attorney-in-fact to
sign for the undersigned and in their respective names as directors and officers
of the  Corporation  the  Form  10-K of the  Corporation  to be  filed  with the
Securities  and Exchange  Commission,  Washington,  D.C.,  under the  Securities
Exchange Act of 1934,  as amended,  and to sign any amendment to such Form 10-K,
hereby   ratifying   and   confirming   all  acts   taken  by  such   agent  and
attorney-in-fact, as herein authorized.

Dated:  February 8, 2000


/s/ Michael L. Cox                  /s/ Stefan S. Anderson
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    Michael L. Cox Officer              Stefan S. Anderson    Director


/s/ James L. Thrash                 /s/ James F. Ault
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    James L. Thrash   Officer           James F Ault          Director


                                   /s/ Frank A. Bracken
                                   -----------------------------------
                                       Frank A. Bracken       Director

                                   /s/ Thomas B. Clark
                                   -----------------------------------
                                       Thomas B. Clark        Director

                                   /s/ Michael L. Cox
                                   -----------------------------------
                                       Michael L. Cox         Director

                                   /s/ David A. Galliher
                                   -----------------------------------
                                       David A. Galliher      Director

                                   /s/ Barry Hudson
                                   -----------------------------------
                                       Barry Hudson           Director

                                   /s/ Norman M. Johnson
                                   -----------------------------------
                                       Norman M. Johnson      Director


                                   -----------------------------------
                                       Ted Montgomery         Director

                                   /s/ George A. Sissel
                                   -----------------------------------
                                       George A. Sissel       Director

                                   /s/ Robert M. Smitson
                                   -----------------------------------
                                       Robert M. Smitson      Director

                                   /s/ Michael D. Wickersham
                                   -----------------------------------
                                       Michael D. Wickersham  Director


                                   -----------------------------------
                                       Dr. John E. Worthen    Director