<SUBMISSION>
<ACCESSION-NUMBER>0001206774-08-001222
<TYPE>11-K
<PUBLIC-DOCUMENT-COUNT>2
<PERIOD>20071231
<FILING-DATE>20080630
<DATE-OF-FILING-DATE-CHANGE>20080630
<FILER>
<COMPANY-DATA>
<CONFORMED-NAME>ENTERPRISE FINANCIAL SERVICES CORP
<CIK>0001025835
<ASSIGNED-SIC>6022
<IRS-NUMBER>431706259
<STATE-OF-INCORPORATION>DE
<FISCAL-YEAR-END>0907
</COMPANY-DATA>
<FILING-VALUES>
<FORM-TYPE>11-K
<ACT>34
<FILE-NUMBER>001-15373
<FILM-NUMBER>08926701
</FILING-VALUES>
<BUSINESS-ADDRESS>
<STREET1>150 NORTH MERAMEC
<STREET2>150 NORTH MERAMEC
<CITY>CLAYTON
<STATE>MO
<ZIP>63105
<PHONE>3147255500
</BUSINESS-ADDRESS>
<MAIL-ADDRESS>
<STREET1>150 NORTH MERAMEC
<STREET2>150 NORTH MERAMEC
<CITY>CLAYTON
<STATE>MO
<ZIP>63105
</MAIL-ADDRESS>
<FORMER-COMPANY>
<FORMER-CONFORMED-NAME>ENTERBANK HOLDINGS INC
<DATE-CHANGED>19961024
</FORMER-COMPANY>
</FILER>
<DOCUMENT>
<TYPE>11-K
<SEQUENCE>1
<FILENAME>enterprise_11k.htm
<DESCRIPTION>ANNUAL REPORT OF EMPLOYEE STOCK PURCHASE, SAVINGS AND SIMILAR PLANS
<TEXT>

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<P align=center><FONT face=serif size=2>As filed with the Securities and
Exchange Commission on June 30, 2008</FONT></P>
<P align=center><B><FONT face=serif size=4>UNITED STATES</FONT></B> <FONT face=serif size=2><BR></FONT><B><FONT face=serif size=4>SECURITIES AND EXCHANGE
COMMISSION</FONT></B><FONT face=serif size=2></FONT></P>
<P align=center><B><FONT face=serif>Washington, D.C. 20549</FONT></B><FONT face=serif size=2></FONT></P>
<P align=center><FONT face=serif size=2>________________</FONT></P>
<P align=center><B><FONT face=serif size=5>FORM 11-K</FONT></B><FONT face=serif size=2></FONT></P>
<P align=center><B><FONT face=serif size=2>&nbsp;<FONT face=Wingdings>x</FONT>&nbsp; ANNUAL REPORT PURSUANT TO SECTION 15(d)
OF<BR></FONT></B><B><FONT face=serif size=2>THE SECURITIES EXCHANGE ACT OF
1934</FONT></B><FONT face=serif size=2></FONT></P>
<P align=center><B><FONT face=serif size=2>For the fiscal year
ended</FONT></B><FONT face=serif size=2></FONT> <BR><B><FONT face=serif size=2>December 31, 2007</FONT></B><FONT face=serif size=2></FONT></P>
<P align=center><B><FONT face=serif size=2>or</FONT></B><FONT face=serif size=2></FONT></P>
<P align=center><B><FONT face=serif size=2><FONT face=Wingdings>o</FONT>
TRANSITION REPORT PURSUANT TO SECTION 15(d)</FONT></B><FONT face=serif size=2></FONT> <BR><B><FONT face=serif size=2>OF THE SECURITIES EXCHANGE ACT OF
1933</FONT></B><FONT face=serif size=2></FONT></P>
<P align=center><B><FONT face=serif size=2>For the transition period
from</FONT></B><FONT face=serif size=2></FONT> <FONT face=serif size=2>_________
<B><FONT face=serif>to</FONT></B></FONT> <FONT face=serif size=2>_________</FONT></P>
<P align=center><FONT face=serif size=2>________________</FONT></P>
<P align=center><B><FONT face=serif size=2>Commission File</FONT></B><FONT face=serif size=2></FONT> <BR><B><FONT face=serif size=2>No.
001-15373</FONT></B> <BR><FONT face=serif size=2>________________</FONT></P>
<P align=center><B><FONT face=serif size=2>A.</FONT></B><FONT face=sans-serif></FONT> <B><FONT face=serif size=2>Full title of the plan and
the address of the plan, if different from that of the issuer named
below:</FONT></B><FONT face=sans-serif></FONT> </P>
<P align=center><B><FONT face=serif size=2>ENTERPRISE BANK INCENTIVE SAVINGS
PLAN</FONT></B></P>
<P align=center><FONT face=serif size=2>________________</FONT></P>
<P align=center><B><FONT face=serif size=2>B.</FONT></B><FONT face=sans-serif></FONT> <B><FONT face=serif size=2>Name of issuer of the
securities held pursuant to the plan and the address of its principal executive
office:</FONT></B><FONT face=sans-serif></FONT></P>
<P align=center><B><FONT face=serif size=5>Enterprise Financial Services
Corp</FONT></B></P>
<P align=center><B><FONT face=serif size=2>150 N. Meramec <BR>St. Louis,
Missouri 63105</FONT></B><FONT face=serif size=2></FONT></P>
<P align=center><FONT face=serif size=2>________________</FONT></P>
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<PAGE>
<P align=center><B><I><FONT face=serif size=2>ENTERPRISE BANK INCENTIVE SAVINGS
PLAN <BR>FINANCIAL STATEMENTS <BR></FONT></I></B><B><I><FONT face=serif size=2>DECEMBER 31, 2007 </FONT></I></B></P>
<P align=center><FONT face=serif size=2>(With Report of Independent Registered
Public Accounting Firm) </FONT></P>
<HR align=center width="100%" noShade SIZE=2>
<PAGE><BR>
<TABLE cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=bottom>
    <TD noWrap align=center width="99%" colSpan=2><B><FONT face=serif><FONT face=serif size=2>CONTENTS&nbsp;&nbsp;&nbsp;</FONT></FONT></B></TD></TR>
  <TR>
    <TD noWrap align=center width="99%" colSpan=2>&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="94%" bgColor=#c0c0c0><FONT face=serif><FONT face=serif size=2><STRONG>Report of Independent Registered Public
      Accounting Firm&nbsp;</STRONG></FONT><FONT size=3> </FONT></FONT></TD>
    <TD noWrap align=right width="5%" bgColor=#c0c0c0><FONT face=serif><FONT face=serif size=2>1</FONT></FONT></TD></TR>
  <TR>
    <TD width="99%" colSpan=2><FONT face=serif size=2><FONT face=serif size=2>&nbsp;</FONT></FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="94%" bgColor=#c0c0c0><FONT face=serif><FONT face=serif size=2><STRONG>Financial Statements&nbsp;</STRONG></FONT>&nbsp;
      </FONT></TD>
    <TD noWrap align=left width="5%" bgColor=#c0c0c0></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="94%"><FONT face=serif size=2><FONT face=serif size=2><FONT size=3>&nbsp;&nbsp;&nbsp;&nbsp; </FONT>Statement Of Net
      Assets Available For Benefits&nbsp;<FONT size=3> </FONT></FONT></FONT></TD>
    <TD noWrap align=right width="5%"><FONT face=serif><FONT face=serif size=2>2</FONT></FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="94%" bgColor=#c0c0c0><FONT face=serif size=2><FONT face=serif size=2><FONT size=3>&nbsp;&nbsp;&nbsp;&nbsp;
      </FONT>Statement Of Changes In Net Assets Available
      For&nbsp;Benefits&nbsp;<FONT size=3> </FONT></FONT></FONT></TD>
    <TD noWrap align=right width="5%" bgColor=#c0c0c0><FONT face=serif size=2><FONT face=serif size=2>3</FONT></FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="94%"><FONT face=serif size=2><FONT face=serif size=2><FONT size=3>&nbsp;&nbsp;&nbsp;&nbsp; </FONT>Notes To Financial
      Statements&nbsp;<FONT size=3> </FONT></FONT></FONT></TD>
    <TD noWrap align=right width="5%"><FONT face=serif><FONT face=serif size=2>4 &#150; 8</FONT></FONT></TD></TR>
  <TR>
    <TD width="99%" colSpan=2><FONT face=serif size=2><FONT face=serif size=2>&nbsp;</FONT></FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="94%" bgColor=#c0c0c0><FONT face=serif><FONT face=serif size=2><STRONG>Supplementary Information&nbsp;</STRONG></FONT>
      </FONT></TD>
    <TD noWrap align=left width="5%" bgColor=#c0c0c0></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="94%"><FONT face=serif size=2><FONT face=serif size=2><FONT size=3>&nbsp;&nbsp;&nbsp;&nbsp; </FONT>Report of Independent
      Registered Public Accounting Firm on Supplementary&nbsp;<FONT face=serif>Information</FONT>&nbsp;<FONT size=3> </FONT></FONT></FONT></TD>
    <TD noWrap align=right width="5%"><FONT face=serif><FONT face=serif size=2>9</FONT></FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="94%" bgColor=#c0c0c0><FONT face=serif size=2><FONT face=serif size=2><FONT size=3>&nbsp;&nbsp;&nbsp;&nbsp;
      </FONT>Schedule Of Assets Held At End Of Year&nbsp;<FONT size=3>
      </FONT></FONT></FONT></TD>
    <TD noWrap align=right width="5%" bgColor=#c0c0c0><FONT face=serif><FONT face=serif size=2>10</FONT></FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="94%"><FONT face=serif size=2><FONT face=serif size=2><FONT size=3>&nbsp;&nbsp;&nbsp;&nbsp; </FONT>Signature&nbsp;<FONT size=3> </FONT></FONT></FONT></TD>
    <TD noWrap align=right width="5%"><FONT face=serif><FONT face=serif size=2>11</FONT></FONT></TD></TR></TABLE><BR>
<HR align=center width="100%" noShade SIZE=2>
<PAGE>
<P align=center><B><FONT face=serif size=2>REPORT OF INDEPENDENT REGISTERED
PUBLIC ACCOUNTING FIRM </FONT></B></P>
<P align=left><FONT face=serif size=2>To The Audit Committee and The Plan Administrator <BR></FONT><FONT face=serif size=2>Enterprise Bank Incentive Savings Plan </FONT></P>
<P align=left><FONT face=serif size=2>We have audited the accompanying statement
of net assets available for benefits of the Enterprise Bank Incentive Savings
Plan (the Plan) as of December 31, 2007 and 2006 and the related statement of
changes in net assets available for benefits for the year ended December 31,
2007. These financial statements are the responsibility of the Plan's
management.</FONT></P>
<P align=left><FONT face=serif size=2>We conducted our audits in accordance with
the standards of the Public Company Accounting </FONT><FONT face=serif size=2>Oversight Board (United States). Those standards require that we plan and
perform the audit to obtain reasonable assurance about whether the financial
statements are free of material misstatement. An audit includes consideration of
internal control over financial reporting as a basis for designing audit
procedures that are appropriate in the circumstances, but not for the purpose of
expressing an opinion on the effectiveness of the Plan&#146;s internal control over
financial reporting. Accordingly, we express no such opinion. An audit also includes
examining, on a test basis, evidence supporting the amounts and disclosures in
the financial statements, assessing the accounting
principles used and significant estimates made by management, as well as
evaluating the overall financial statement presentation. We believe that our
audits provide a reasonable basis for our opinion.</FONT></P>
<P align=left><FONT face=serif size=2>In our opinion, the financial statements
referred to above present fairly, in all material respects, the net assets
available for benefits of the Plan as of December 31, 2007 and 2006, and the
changes in net assets available for benefits for the year ended December 31,
2007 in conformity with accounting principles generally accepted in the United
States of America. </FONT></P>
<P align=left><FONT face=serif size=2>/s/ RubinBrown LLP <BR>St. Louis, Missouri
<BR>June 30, 2008 </FONT></P>
<P align=center><FONT size=2>-&nbsp;1 -</FONT></P>
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<PAGE>
<P align=center><B><FONT face=serif><FONT face=serif size=2>ENTERPRISE BANK
INCENTIVE SAVINGS PLAN</FONT> <BR><FONT face=serif size=2>STATEMENT OF NET
ASSETS AVAILABLE FOR BENEFITS</FONT></FONT></B></P>
<TABLE cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=bottom>
    <TD noWrap align=left width="88%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="11%" colSpan=5><B><FONT face=serif size=2>December 31,</FONT></B>&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="88%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="5%" colSpan=2><B><FONT face=serif size=2>2007</FONT></B>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="1%">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="5%" colSpan=2><FONT face=serif size=2>2006</FONT>&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="88%" bgColor=#c0c0c0><B><FONT face=serif size=2>Assets</FONT></B>&nbsp;</TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0>&nbsp;</TD>
    <TD noWrap align=left width="4%" bgColor=#c0c0c0>&nbsp;</TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0>&nbsp;</TD>
    <TD noWrap align=left width="4%" bgColor=#c0c0c0>&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="88%">&nbsp;&nbsp;&nbsp;&nbsp; <FONT face=serif size=2>Cash</FONT>&nbsp;</TD>
    <TD noWrap align=left width="1%"><B><FONT face=serif size=2>&nbsp;
      $</FONT></B>&nbsp;</TD>
    <TD noWrap align=right width="4%"><B><FONT face=serif size=2>65,649</FONT></B>&nbsp;</TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"><FONT face=serif size=2>$</FONT>&nbsp;</TD>
    <TD noWrap align=right width="4%"><FONT face=serif size=2>57,099</FONT>&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="88%" bgColor=#c0c0c0>&nbsp;&nbsp;&nbsp;&nbsp;
      <FONT face=serif size=2>Investments (Note 3):</FONT>&nbsp;</TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0>&nbsp;</TD>
    <TD noWrap align=left width="4%" bgColor=#c0c0c0>&nbsp;</TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0>&nbsp;</TD>
    <TD noWrap align=left width="4%" bgColor=#c0c0c0>&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="88%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <FONT face=serif size=2>Interest-earning cash</FONT>&nbsp;</TD>
    <TD noWrap align=left width="1%">&nbsp;</TD>
    <TD noWrap align=right width="4%"><B><FONT face=serif size=2>712,296</FONT></B>&nbsp;</TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%">&nbsp;</TD>
    <TD noWrap align=right width="4%"><FONT face=serif size=2>860,320</FONT>&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="88%" bgColor=#c0c0c0>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
      <FONT face=serif size=2>Mutual funds, at fair value</FONT>&nbsp;</TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0>&nbsp;</TD>
    <TD noWrap align=right width="4%" bgColor=#c0c0c0><B><FONT face=serif size=2>12,033,480</FONT></B>&nbsp;</TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0>&nbsp;</TD>
    <TD noWrap align=right width="4%" bgColor=#c0c0c0><FONT face=serif size=2>10,223,875</FONT>&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="88%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <FONT face=serif size=2>Common stock, at fair value</FONT>&nbsp;</TD>
    <TD noWrap align=left width="1%">&nbsp;</TD>
    <TD noWrap align=right width="4%"><B><FONT face=serif size=2>1,863,252</FONT></B>&nbsp;</TD>
    <TD noWrap align=left width="1%">&nbsp;</TD>
    <TD noWrap align=left width="1%">&nbsp;</TD>
    <TD noWrap align=right width="4%"><FONT face=serif size=2>2,978,920</FONT>&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="88%" bgColor=#c0c0c0>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
      <FONT face=serif size=2>Loans to participants, at cost</FONT>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%" bgColor=#c0c0c0>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="4%" bgColor=#c0c0c0><B><FONT face=serif size=2>257,740</FONT></B>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%" bgColor=#c0c0c0>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%" bgColor=#c0c0c0>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="4%" bgColor=#c0c0c0><FONT face=serif size=2>241,246</FONT>&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="88%"><FONT face=serif size=2><FONT size=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>
      Total Investments</FONT>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="4%"><B><FONT face=serif size=2>14,932,417</FONT></B>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="4%"><FONT face=serif size=2>14,361,460</FONT>&nbsp;</TD></TR>
  <TR>
    <TD align=left width="99%" colSpan=6>&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="88%" bgColor=#c0c0c0>&nbsp;&nbsp;&nbsp;&nbsp;
      <FONT face=serif size=2>Receivables:</FONT>&nbsp;</TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0>&nbsp;</TD>
    <TD noWrap align=left width="4%" bgColor=#c0c0c0>&nbsp;</TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0>&nbsp;</TD>
    <TD noWrap align=left width="4%" bgColor=#c0c0c0>&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="88%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <FONT face=serif size=2>Employer contributions</FONT>&nbsp;</TD>
    <TD noWrap align=left width="1%">&nbsp;</TD>
    <TD noWrap align=right width="4%"><B><FONT face=serif size=2>441,878</FONT></B>&nbsp;</TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%">&nbsp;</TD>
    <TD noWrap align=right width="4%"><FONT face=serif size=2>477,920</FONT>&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="88%" bgColor=#c0c0c0>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
      <FONT face=serif size=2>Accrued interest and dividends</FONT>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%" bgColor=#c0c0c0>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="4%" bgColor=#c0c0c0><FONT face=serif size=2>&#151;</FONT>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%" bgColor=#c0c0c0>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%" bgColor=#c0c0c0>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="4%" bgColor=#c0c0c0><FONT face=serif size=2>4,115</FONT>&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="88%"><FONT face=serif size=2><FONT size=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>
      Total Receivables</FONT>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="4%"><B><FONT face=serif size=2>441,878</FONT></B>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="4%"><FONT face=serif size=2>482,035</FONT>&nbsp;</TD></TR>
  <TR>
    <TD align=left width="99%" colSpan=6>&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=left width="88%" bgColor=#c0c0c0><B><FONT face=serif size=2>Net Assets Available For
      Benefits</FONT></B>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=left width="1%" bgColor=#c0c0c0><B><FONT face=serif size=2>&nbsp; $</FONT></B>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=right width="4%" bgColor=#c0c0c0><B><FONT face=serif size=2>&nbsp;
    15,374,295</FONT></B>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=left width="1%" bgColor=#c0c0c0>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=left width="1%" bgColor=#c0c0c0><FONT face=serif size=2>$</FONT>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=right width="4%" bgColor=#c0c0c0><FONT face=serif size=2>&nbsp;
  14,843,495</FONT>&nbsp;</TD></TR></TABLE><BR>
<P align=justify><FONT face=serif size=2>See the accompanying notes to financial
statements.</FONT></P>
<P align=center><FONT face=serif><FONT face=serif size=2>- 2 -</FONT></FONT></P>
<HR align=center width="100%" noShade SIZE=2>
<PAGE>
<P align=center><B><FONT face=serif><FONT face=serif size=2>ENTERPRISE BANK
INCENTIVE SAVINGS PLAN</FONT> <BR><FONT face=serif size=2>STATEMENT OF CHANGES
IN NET ASSETS</FONT><BR></FONT></B><B><FONT face=serif><FONT face=serif size=2>AVAILABLE FOR BENEFITS</FONT></FONT></B><FONT face=serif></FONT></P>
<TABLE cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=bottom>
    <TD noWrap align=left width="94%">&nbsp;</TD>
    <TD noWrap align=center width="5%" colSpan=2><B><FONT face=serif size=2>For The Year</FONT></B>&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="94%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="5%" colSpan=2><B><FONT face=serif size=2>Ended December
  31,</FONT></B>&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="94%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="5%" colSpan=2><B><FONT face=serif size=2>2007</FONT></B>&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="94%" bgColor=#c0c0c0><B><FONT face=serif size=2>Additions To Net Assets Attributed To:</FONT></B>&nbsp;</TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0>&nbsp;</TD>
    <TD noWrap align=left width="4%" bgColor=#c0c0c0>&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="94%">&nbsp;&nbsp;&nbsp;&nbsp; <B><FONT face=serif size=2>Investment Income</FONT></B>&nbsp;</TD>
    <TD noWrap align=left width="1%">&nbsp;</TD>
    <TD noWrap align=left width="4%">&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="94%" bgColor=#c0c0c0>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
      <FONT face=serif size=2>Net appreciation in fair value of investments
      (Note 3)</FONT>&nbsp;</TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0>&nbsp; &nbsp;<B><FONT face=serif size=2>$</FONT></B>&nbsp;</TD>
    <TD noWrap align=right width="4%" bgColor=#c0c0c0><B><FONT face=serif size=2>123,072</FONT></B>&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="94%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <FONT face=serif size=2>Interest income on loans to participants</FONT>&nbsp;</TD>
    <TD noWrap align=left width="1%">&nbsp;</TD>
    <TD noWrap align=right width="4%"><B><FONT face=serif size=2>22,390</FONT></B>&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="94%" bgColor=#c0c0c0>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
      <FONT face=serif size=2>Interest income on interest-earning
    cash</FONT>&nbsp;</TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0>&nbsp;</TD>
    <TD noWrap align=right width="4%" bgColor=#c0c0c0><B><FONT face=serif size=2>39,660</FONT></B>&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="94%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <FONT face=serif size=2>Dividend income on common stock</FONT>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="4%"><B><FONT face=serif size=2>17,665</FONT></B>&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="94%" bgColor=#c0c0c0>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
      <B><FONT face=serif size=2>Net Investment Gain</FONT></B>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%" bgColor=#c0c0c0>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="4%" bgColor=#c0c0c0><B><FONT face=serif size=2>202,787</FONT></B>&nbsp;</TD></TR>
  <TR>
    <TD width="99%" colSpan=3>&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="94%" bgColor=#c0c0c0>&nbsp;&nbsp;&nbsp;&nbsp;
      <B><FONT face=serif size=2>Contributions</FONT></B>&nbsp;</TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0>&nbsp;</TD>
    <TD noWrap align=left width="4%" bgColor=#c0c0c0>&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="94%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <FONT face=serif size=2>Salary deferral contributions</FONT>&nbsp;</TD>
    <TD noWrap align=left width="1%">&nbsp;</TD>
    <TD noWrap align=right width="4%"><B><FONT face=serif size=2>1,739,486</FONT></B>&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="94%" bgColor=#c0c0c0>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
      <FONT face=serif size=2>Employer matching contributions, net of
      forfeitures (Note 1)</FONT>&nbsp;</TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0>&nbsp;</TD>
    <TD noWrap align=right width="4%" bgColor=#c0c0c0><B><FONT face=serif size=2>441,878</FONT></B>&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="94%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <FONT face=serif size=2>Participant rollover contributions</FONT>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="4%"><B><FONT face=serif size=2>221,235</FONT></B>&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="94%" bgColor=#c0c0c0>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
      <B><FONT face=serif size=2>Total Contributions</FONT></B>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%" bgColor=#c0c0c0>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="4%" bgColor=#c0c0c0><B><FONT face=serif size=2>2,402,599</FONT></B>&nbsp;</TD></TR>
  <TR>
    <TD width="99%" colSpan=3>&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="94%" bgColor=#c0c0c0>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
      <B><FONT face=serif size=2>Total Additions</FONT></B>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%" bgColor=#c0c0c0>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="4%" bgColor=#c0c0c0><B><FONT face=serif size=2>2,605,386</FONT></B>&nbsp;</TD></TR>
  <TR>
    <TD width="99%" colSpan=3>&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="94%" bgColor=#c0c0c0><B><FONT face=serif size=2>Deductions From Net Assets Attributed To:</FONT></B>&nbsp;</TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0>&nbsp;</TD>
    <TD noWrap align=left width="4%" bgColor=#c0c0c0>&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="94%">&nbsp;&nbsp;&nbsp;&nbsp; <FONT face=serif size=2>Benefits paid to participants</FONT>&nbsp;</TD>
    <TD noWrap align=left width="1%">&nbsp;</TD>
    <TD noWrap align=right width="4%"><B><FONT face=serif size=2>2,072,903</FONT></B>&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="94%" bgColor=#c0c0c0>&nbsp;&nbsp;&nbsp;&nbsp; <FONT face=serif size=2>Other
      expenses</FONT>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%" bgColor=#c0c0c0>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="4%" bgColor=#c0c0c0><B><FONT face=serif size=2>1,683</FONT></B>&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="94%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
      <B><FONT face=serif size=2>Total Deductions</FONT></B>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="4%"><B><FONT face=serif size=2>2,074,586</FONT></B>&nbsp;</TD></TR>
  <TR>
    <TD width="99%" colSpan=3>&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="94%" bgColor=#c0c0c0><B><FONT face=serif size=2>Net Increase</FONT></B>&nbsp;</TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0>&nbsp;</TD>
    <TD noWrap align=right width="4%" bgColor=#c0c0c0><B><FONT face=serif size=2>530,800</FONT></B>&nbsp;</TD></TR>
  <TR>
    <TD width="99%" bgColor=#ffffff colSpan=3>&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="94%" bgColor=#c0c0c0><B><FONT face=serif size=2>Net Assets Available For
      Benefits - Beginning Of Year</FONT></B>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%" bgColor=#c0c0c0>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="4%" bgColor=#c0c0c0><B><FONT face=serif size=2>14,843,495</FONT></B>&nbsp;</TD></TR>
  <TR>
    <TD width="99%" colSpan=3>&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=left width="94%" bgColor=#c0c0c0><B><FONT face=serif size=2>Net Assets Available For
      Benefits - End Of Year</FONT></B>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=left width="1%" bgColor=#c0c0c0>&nbsp; &nbsp;<B><FONT face=serif size=2>$</FONT></B>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=right width="4%" bgColor=#c0c0c0><B><FONT face=serif size=2>&nbsp;&nbsp;&nbsp;&nbsp;
      15,374,295</FONT></B>&nbsp;</TD></TR></TABLE><BR>
<P align=justify><FONT face=serif size=2>See the accompanying notes to financial
statements.</FONT></P>
<P align=center><FONT face=serif size=2>- 3 -</FONT></P>
<HR align=center width="100%" noShade SIZE=2>
<PAGE>
<P align=center><B><FONT face=serif size=2>ENTERPRISE BANK INCENTIVE SAVINGS
PLAN <BR>NOTES TO FINANCIAL STATEMENTS <BR></FONT></B><STRONG><FONT face=serif size=2><FONT face=serif>December 31, 2007 And 2006 </FONT></FONT></STRONG></P>
<P align=left><B><FONT face=serif size=2>Note 1 &#150; Description Of The Plan
<BR></FONT></B><FONT face=serif size=2>The following description of Enterprise
Bank Incentive Savings Plan (the Plan) provides only general information.
Participants should refer to the Plan Agreement for a more complete description
of the Plan&#146;s provisions. </FONT></P>
<TABLE cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR>
    <TD width="1%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </TD>
    <TD width="99%"><STRONG><EM><FONT face=serif size=2>General
      </FONT></EM></STRONG></TD></TR>
  <TR>
    <TD width="1%"></TD>
    <TD width="99%"><FONT face=serif size=2>The Plan is a defined contribution
      plan, with a 401(k) provision, covering all employees of Enterprise
      Financial Services Corp and its wholly owned subsidiaries, excluding
      Millennium Brokerage Group, LLC, (the Company) who are not seasonal
      employees and have attained the age of 21. It is subject to the provisions
      of the Employee Retirement Income Security Act of 1974 (ERISA).
  </FONT></TD></TR>
  <TR>
    <TD width="1%"></TD>
    <TD width="99%">&nbsp;</TD></TR>
  <TR>
    <TD width="1%"></TD>
    <TD width="99%"><STRONG><EM><FONT face=serif size=2>Contributions
      </FONT></EM></STRONG></TD></TR>
  <TR>
    <TD width="1%"></TD>
    <TD width="99%"><FONT face=serif size=2>Participants may contribute from
      1% to 75% of eligible compensation to the Plan, subject to the limits of
      the Internal Revenue Code. The amount contributed by the Company is
      discretionary and determined by the Board of Directors of the Company. The
      Company contribution, on behalf of each participant, will be a percentage
      of deferrals up to the first 5% of the participant&#146;s compensation.
      Participants may also contribute amounts representing distributions from
      other qualified defined benefit or defined contribution plans. All
      contributions are subject to applicable limitations. </FONT></TD></TR>
  <TR>
    <TD width="1%"></TD>
    <TD width="99%">&nbsp;</TD></TR>
  <TR>
    <TD width="1%"></TD>
    <TD width="99%"><FONT face=serif size=2>Employer matching contributions
      were $486,145 for 2007. </FONT></TD></TR>
  <TR>
    <TD width="1%"></TD>
    <TD width="99%">&nbsp;</TD></TR>
  <TR>
    <TD width="1%"></TD>
    <TD width="99%"><STRONG><EM><FONT face=serif size=2>Vesting
      </FONT></EM></STRONG></TD></TR>
  <TR>
    <TD width="1%"></TD>
    <TD width="99%"><FONT face=serif size=2>Participants are immediately
      vested in their contributions, including rollover contributions plus
      actual earnings thereon. Vesting in the remainder of their accounts is
      based on years of continuous service, as defined in the Plan Agreement.
      Participants are partially vested after one year and are 100% vested after
      five years of service.</FONT></TD></TR>
  <TR>
    <TD width="1%"></TD>
    <TD width="99%">&nbsp;</TD></TR>
  <TR>
    <TD width="1%"></TD>
    <TD width="99%"><STRONG><EM><FONT face=serif size=2>Participant Accounts
      </FONT></EM></STRONG></TD></TR>
  <TR>
    <TD width="1%"></TD>
    <TD width="99%"><FONT face=serif size=2>Each participant&#146;s account is
      credited with the participant&#146;s contributions, the employer&#146;s matching
      contributions and an allocation of the Plan&#146;s earnings. The allocation of
      earnings is determined by the earnings of the participant&#146;s investment
      selection based on each participant&#146;s balance, as defined in the Plan
      Agreement. The benefit to which a participant is entitled is the benefit
      that can be provided from the participant&#146;s vested account.</FONT></TD></TR>
  <TR>
    <TD width="1%"></TD>
    <TD width="99%">&nbsp;</TD></TR>
  <TR>
    <TD width="1%"></TD>
    <TD width="99%"><STRONG><EM><FONT face=serif size=2>Payment Of Benefits
      </FONT></EM></STRONG></TD></TR>
  <TR>
    <TD width="1%"></TD>
    <TD width="99%"><FONT face=serif size=2>On termination of service, a
      participant may elect to receive either a lump-sum or Qualified Joint and
      Survivor Annuity equal to the participant&#146;s vested interest in his or her
      account. </FONT></TD></TR>
  <TR>
    <TD width="1%"></TD>
    <TD width="99%">&nbsp;</TD></TR>
  <TR>
    <TD width="1%"></TD>
    <TD width="99%">
      <P align=left><B><I><FONT face=serif size=2>Forfeitures
    </FONT></I></B></P></TD></TR>
  <TR>
    <TD width="1%"></TD>
    <TD width="99%"><FONT face=serif size=2>Forfeitures are used to reduce
      future employer matching contributions or plan administration costs of the
      Company. Forfeitures used to offset employer matching contributions
      amounted to $44,267 for the year ended December 31, 2007.
  </FONT></TD></TR></TABLE>
<P align=center><FONT face=serif size=2>- 4 - </FONT></P>
<HR align=center width="100%" noShade SIZE=2>
<PAGE>
<P style="PADDING-LEFT: 15pt" align=left><B><I><FONT face=serif size=2>Participant Loans <BR></FONT></I></B><FONT face=serif size=2>Participants
may borrow from their fund accounts a minimum of $1,000 up to a maximum of
$50,000 or 50% of their account balance, whichever is less. Loan terms range
from one month to five years (longer for the purchase of a primary residence),
at a mutually agreed term between the participant and the Plan Administrator.
The loans are secured by the vested balance in the participant&#146;s account and
bear interest at a rate commensurate with local prevailing rates as determined
by the Plan Administrator. Principal and interest are paid through payroll
deductions. </FONT></P>
<P style="PADDING-LEFT: 15pt" align=left><B><I><FONT face=serif size=2>Administrative Expenses <BR></FONT></I></B><FONT face=serif size=2>Substantially all expenses of the Plan are paid by the Company.
</FONT></P>
<P align=left><B><FONT face=serif size=2>Note 2 &#150; Summary Of Significant
Accounting Policies </FONT></B></P>
<P style="PADDING-LEFT: 15pt" align=left><B><I><FONT face=serif size=2>Basis Of
Accounting <BR></FONT></I></B><FONT face=serif size=2>The accompanying financial
statements are presented on the accrual basis of accounting. </FONT></P>
<P style="PADDING-LEFT: 15pt" align=left><B><I><FONT face=serif size=2>Valuation
Of Investments And Income Recognition <BR></FONT></I></B><FONT face=serif size=2>The Plan&#146;s investments are stated at fair value. Mutual funds are valued
at quoted market prices. Participant loans are valued at cost, which
approximates fair market value.</FONT></P>
<P style="PADDING-LEFT: 15pt" align=left><B><I><FONT face=serif size=2>Estimates
And Assumptions <BR></FONT></I></B><FONT face=serif size=2>The preparation of
financial statements in conformity with accounting principles generally accepted
in the United States of America requires management to make estimates and
assumptions that affect the reported amounts of assets and liabilities,
disclosure of contingent assets and liabilities at the date of the financial
statements and the reported amounts of additions to and deductions from net
assets during the reporting period. Actual results could differ from those
estimates. </FONT></P>
<P style="PADDING-LEFT: 15pt" align=left><FONT face=serif size=2>As described in
Financial Accounting Standards Board Staff Position, FSP AAG INV-1 and SOP
94-4-1, Reporting of Fully Benefit&#150;Responsive Investment Contracts Held by
Certain Investment Companies Subject to the AICPA Investment Company Guide and
Defined-Contribution Health and Welfare and Pension Plans (the FSP), investment
contracts held by a defined-contribution plan are required to be reported at
fair value. However, contract value is the relevant measurement attribute for
that portion of the net assets available for benefits of a defined-contribution
plan attributable to fully benefit-responsive investment contracts because
contract value is the amount participants would receive if they were to initiate
permitted transactions under the terms of the Plan. As required by the FSP, the
statement of net assets available for benefits presents the fair value of the
investment contracts as well as the adjustment of the fully benefit-responsive
investment contracts from fair value to contract value. The adjustment to
contract value is immaterial for 2007 and 2006. The statement of changes in net
assets available for benefits is prepared on a contract-value basis. </FONT></P>
<P style="PADDING-LEFT: 15pt" align=left><B><I><FONT face=serif size=2>Payment
Of Benefits <BR></FONT></I></B><FONT face=serif size=2>Benefits are recorded
when paid. </FONT></P>
<P align=center><FONT face=serif size=2>- 5 - </FONT></P>
<HR align=center width="100%" noShade SIZE=2>
<PAGE>
<P align=left><B><FONT face=serif size=2>Note 3 &#150; Investments
<BR></FONT></B><FONT face=serif size=2>The Plan&#146;s investments are held and
managed by Charles Schwab Trust Company (the Custodian). As of December 31,
2007, participants could direct contributions to any of twelve investment
options offered by the Plan. Effective April 1, 2007, participants could
transfer out of the Enterprise Financial Services Corp common stock. On January
1, 2008, the Enterprise Financial Services common stock was unitized and
converted to a common stock fund. See Note 8 &#150; Subsequent Events for more
information.</FONT></P>
<P align=left><FONT face=serif size=2>Investments that represent 5% or more of
the Plan&#146;s net assets available for benefits at the beginning of each respective
Plan year are summarized as follows: </FONT></P>
<DIV align=center>
<TABLE cellSpacing=0 cellPadding=0 width="90%" border=0>

  <TR vAlign=bottom>
    <TD noWrap align=left width="86%">&nbsp; </TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="14%" colSpan=7>&nbsp;<B><FONT face=serif size=2>At December 31,</FONT></B>
  </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="86%">&nbsp; </TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="7%" colSpan=3>&nbsp;<B><FONT face=serif size=2>2007</FONT></B> </TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="1%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="6%" colSpan=3><FONT face=serif size=2><FONT size=3>&nbsp;</FONT>2006</FONT>
  </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="86%" bgColor=#c0c0c0><FONT face=serif size=2>Enterprise Financial Services Corp common stock, 78,255 and</FONT>
    </TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0>&nbsp; </TD>
    <TD noWrap align=left width="5%" bgColor=#c0c0c0>&nbsp; </TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0>&nbsp; </TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="4%" bgColor=#c0c0c0>&nbsp; </TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="86%" bgColor=#c0c0c0><FONT face=serif size=2>91,434 shares, respectively</FONT> </TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0><B><FONT face=serif size=2>$</FONT></B> </TD>
    <TD noWrap align=right width="5%" bgColor=#c0c0c0><FONT face=serif size=2><FONT style="BACKGROUND-COLOR: #c0c0c0" size=3>&nbsp;&nbsp;&nbsp;&nbsp; </FONT><STRONG>1,863,252</STRONG></FONT>
    </TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0><FONT size=2>$</FONT>&nbsp;</TD>
    <TD noWrap align=right width="4%" bgColor=#c0c0c0><FONT face=serif size=2><FONT style="BACKGROUND-COLOR: #c0c0c0" size=3>&nbsp;&nbsp;&nbsp;&nbsp; </FONT>2,978,920</FONT> </TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0><FONT face=sans-serif size=2>&nbsp;*</FONT>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="86%"><FONT face=serif size=2>Mutual
      Funds:</FONT>&nbsp; </TD>
    <TD noWrap align=left width="1%">&nbsp; </TD>
    <TD noWrap align=left width="5%">&nbsp; </TD>
    <TD noWrap align=left width="1%">&nbsp; </TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="4%">&nbsp; </TD>
    <TD noWrap align=left width="1%">&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="86%" bgColor=#c0c0c0>&nbsp; &nbsp;&nbsp;
      <FONT face=serif size=2>CRM Mid-Cap Value Fund</FONT> </TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0>&nbsp; </TD>
    <TD noWrap align=right width="5%" bgColor=#c0c0c0><B><FONT face=serif size=2>1,013,406</FONT></B> </TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0>&nbsp; </TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="4%" bgColor=#c0c0c0><FONT face=serif size=2>759,078</FONT> </TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="86%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face=serif size=2>Davis NY Venture A</FONT> </TD>
    <TD noWrap align=left width="1%">&nbsp; </TD>
    <TD noWrap align=right width="5%"><B><FONT face=serif size=2>1,150,252</FONT></B> </TD>
    <TD noWrap align=left width="1%">&nbsp; </TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=right width="4%"><FONT face=serif size=2>1,079,867</FONT>
    </TD>
    <TD noWrap align=left width="1%">&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="86%" bgColor=#c0c0c0>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face=serif size=2>Dodge and Cox Stock Fund</FONT> </TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0>&nbsp; </TD>
    <TD noWrap align=right width="5%" bgColor=#c0c0c0><B><FONT face=serif size=2>786,547</FONT></B> </TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0>&nbsp; </TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="4%" bgColor=#c0c0c0><FONT face=serif size=2>704,634</FONT> </TD>
    <TD noWrap align=center width="1%" bgColor=#c0c0c0><FONT face=sans-serif size=2>&nbsp;**</FONT>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="86%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face=serif size=2>Europacific Growth Fund R4</FONT> </TD>
    <TD noWrap align=left width="1%">&nbsp; </TD>
    <TD noWrap align=right width="5%"><B><FONT face=serif size=2>1,500,662</FONT></B> </TD>
    <TD noWrap align=left width="1%">&nbsp; </TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=right width="4%"><FONT face=serif size=2>1,372,283</FONT>
    </TD>
    <TD noWrap align=left width="1%">&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="86%" bgColor=#c0c0c0>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face=serif size=2>Federated Capital Preservation Fund</FONT> </TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0>&nbsp; </TD>
    <TD noWrap align=right width="5%" bgColor=#c0c0c0><B><FONT face=serif size=2>712,296</FONT></B> </TD>
    <TD noWrap align=center width="1%" bgColor=#c0c0c0><FONT face=sans-serif size=2>&nbsp;**</FONT>&nbsp; </TD>
    <TD noWrap align=center width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=center width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="4%" bgColor=#c0c0c0><FONT face=serif size=2>860,320</FONT> </TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="86%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face=serif size=2>Growth Fund of America</FONT> </TD>
    <TD noWrap align=left width="1%">&nbsp; </TD>
    <TD noWrap align=right width="5%"><B><FONT face=serif size=2>1,722,866</FONT></B> </TD>
    <TD noWrap align=left width="1%">&nbsp; </TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=right width="4%"><FONT face=serif size=2>1,456,137</FONT>
    </TD>
    <TD noWrap align=left width="1%">&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="86%" bgColor=#c0c0c0>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face=serif size=2>PIMCO Total Return</FONT> </TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0>&nbsp;</TD>
    <TD noWrap align=right width="5%" bgColor=#c0c0c0><B><FONT face=serif size=2>1,356,432</FONT></B> </TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0>&nbsp; </TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="4%" bgColor=#c0c0c0><FONT face=serif size=2>975,585</FONT> </TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="86%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face=serif size=2>Third Avenue Value Fund</FONT> </TD>
    <TD noWrap align=left width="1%">&nbsp; </TD>
    <TD noWrap align=right width="5%"><B><FONT face=serif size=2>793,481</FONT></B> </TD>
    <TD noWrap align=left width="1%">&nbsp; </TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=right width="4%"><FONT face=serif size=2>715,685</FONT>
    </TD>
    <TD noWrap align=left width="1%"><FONT face=sans-serif size=2>&nbsp;**</FONT>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="86%" bgColor=#c0c0c0>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face=serif size=2>Turner Mid-Cap Growth Fund I</FONT>&nbsp; </TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0>&nbsp; </TD>
    <TD noWrap align=right width="5%" bgColor=#c0c0c0><B><FONT face=serif size=2>826,850</FONT></B> </TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0>&nbsp; </TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="4%" bgColor=#c0c0c0><FONT face=serif size=2>550,367</FONT> </TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0><FONT face=sans-serif size=2>&nbsp;**</FONT>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="86%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face=serif size=2>Trendstar Small-Cap Fund</FONT> </TD>
    <TD noWrap align=left width="1%">&nbsp; </TD>
    <TD noWrap align=right width="5%"><B><FONT face=serif size=2>810,076</FONT></B> </TD>
    <TD noWrap align=left width="1%">&nbsp; </TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=right width="4%"><FONT face=serif size=2>927,954</FONT>
    </TD>
    <TD noWrap align=left width="1%">&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="86%" bgColor=#c0c0c0>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face=serif size=2>Tweedy Browne Global Value Fund</FONT>&nbsp; </TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0>&nbsp; </TD>
    <TD noWrap align=right width="5%" bgColor=#c0c0c0><B><FONT face=serif size=2>761,745</FONT></B> </TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0>&nbsp; </TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="4%" bgColor=#c0c0c0><FONT face=serif size=2>573,611</FONT> </TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0><FONT face=sans-serif size=2>&nbsp;**</FONT>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="86%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face=serif size=2>Vanguard 500 Index Signal</FONT> </TD>
    <TD noWrap align=left width="1%">&nbsp; </TD>
    <TD noWrap align=right width="5%"><B><FONT face=serif size=2>1,311,163</FONT></B> </TD>
    <TD noWrap align=left width="1%">&nbsp; </TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=right width="4%"><FONT face=serif size=2>&#151;</FONT> </TD>
    <TD noWrap align=left width="1%">&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="86%" bgColor=#c0c0c0>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face=serif size=2>Vanguard 500 Index Admiral Shares</FONT> </TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0>&nbsp; </TD>
    <TD noWrap align=right width="5%" bgColor=#c0c0c0><B><FONT face=serif size=2>&#151;</FONT></B> </TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0>&nbsp; </TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="4%" bgColor=#c0c0c0><FONT face=serif size=2>1,108,675</FONT> </TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0>&nbsp;
</TD></TR></TABLE></DIV><BR>
<DIV align=center>
<TABLE cellSpacing=0 cellPadding=0 width="90%" border=0>

  <TR>
    <TD vAlign=top noWrap><FONT face=serif size=2>*</FONT></TD>
    <TD vAlign=top noWrap></TD>
    <TD width="100%"><FONT face=serif size=2>Nonparticipant directed
      investment</FONT></TD></TR>
  <TR>
    <TD vAlign=top noWrap><FONT face=serif size=2>**</FONT></TD>
    <TD vAlign=top noWrap>&nbsp;</TD>
    <TD width="100%"><FONT face=serif size=2>Did not represent 5% or more of
      the Plan's net assets available for benefits. Included for comparison
      purposes only.</FONT></TD></TR></TABLE></DIV>
<P align=left><FONT face=serif size=2>The Plan&#146;s investments (including gains
and losses in investments bought and sold, as well as held during the year)
appreciated in value as follows for the year ended December 31: </FONT></P>
<DIV align=center>
<TABLE cellSpacing=0 cellPadding=0 width="85%" border=0>

  <TR vAlign=bottom>
    <TD noWrap align=left width="93%">&nbsp; </TD>
    <TD style="BORDER-TOP: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="6%" colSpan=3>&nbsp;<B><FONT face=serif size=2>2007</FONT></B> </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="93%" bgColor=#c0c0c0><FONT face=serif size=2>Mutual Funds</FONT>&nbsp; </TD>
    <TD noWrap align=right width="1%" bgColor=#c0c0c0><B><FONT face=serif size=2>$</FONT></B> </TD>
    <TD noWrap align=right width="4%" bgColor=#c0c0c0><B><FONT face=serif size=2>918,853</FONT></B> </TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="93%"><FONT face=serif size=2>Common
      stock</FONT>&nbsp; </TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%">&nbsp; </TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="4%"><FONT face=serif size=2><FONT size=3>&nbsp;&nbsp;&nbsp;&nbsp;
      </FONT><STRONG>(795,781</STRONG></FONT> </TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%"><B><FONT face=serif size=2>)</FONT></B> </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="93%" bgColor=#c0c0c0>&nbsp; </TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=right width="1%" bgColor=#c0c0c0><B><FONT face=serif size=2>$</FONT></B> </TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=right width="4%" bgColor=#c0c0c0><B><FONT face=serif size=2>123,072</FONT></B> </TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=left width="1%" bgColor=#c0c0c0>&nbsp;</TD></TR></TABLE></DIV><BR>
<P align=center><FONT face=serif size=2>- 6 - </FONT></P>
<HR align=center width="100%" noShade SIZE=2>
<PAGE>
<P align=left><FONT face=serif size=2>Information about the assets and the
significant components of the changes in assets for the years then ended,
relating to nonparticipant-directed investments follows: </FONT></P>
<DIV align=center>
<TABLE cellSpacing=0 cellPadding=0 width="90%" border=0>

  <TR vAlign=bottom>
    <TD noWrap align=left width="88%">&nbsp; </TD>
    <TD noWrap align=center width="12%" colSpan=6>&nbsp;<B><FONT face=serif size=2>For The Years</FONT></B>&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="88%">&nbsp; </TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="12%" colSpan=6>&nbsp;<B><FONT face=serif size=2>Ended December
    31,</FONT></B>&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="88%">&nbsp; </TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="6%" colSpan=3>&nbsp;<B><FONT face=serif size=2>2007</FONT></B> </TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="1%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="5%" colSpan=2><FONT face=serif size=2><FONT size=3>&nbsp;</FONT>2006</FONT>&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="88%" bgColor=#c0c0c0><B><FONT face=serif size=2>Assets:</FONT></B>&nbsp; </TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0>&nbsp; </TD>
    <TD noWrap align=left width="4%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0>&nbsp; </TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="4%" bgColor=#c0c0c0>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="88%" bgColor=#ffffff>&nbsp;&nbsp;&nbsp;&nbsp;
      <FONT face=serif size=2>Enterprise Financial Services Corp common stock,
      78,255 and 91,434 shares,
      respectively</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=left width="1%" bgColor=#ffffff><B><FONT face=serif size=2>$</FONT></B>&nbsp; </TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=right width="4%" bgColor=#ffffff><B><FONT face=serif size=2>1,863,252</FONT></B> </TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=left width="1%" bgColor=#ffffff>&nbsp; </TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=left width="1%" bgColor=#ffffff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=left width="1%" bgColor=#ffffff><FONT face=serif size=2>$</FONT> </TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=right width="4%" bgColor=#ffffff>&nbsp; <FONT face=serif size=2>2,978,920</FONT>&nbsp;
  </TD></TR>
  <TR>
    <TD width="100%" colSpan=7>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="88%" bgColor=#c0c0c0><B><FONT face=serif size=2>Changes in assets:</FONT></B>&nbsp; </TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0>&nbsp; </TD>
    <TD noWrap align=left width="4%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0>&nbsp; </TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="4%" bgColor=#c0c0c0>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="88%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face=serif size=2>Employer contributions</FONT>&nbsp; </TD>
    <TD noWrap align=left width="1%"><B><FONT face=serif size=2>$</FONT></B>&nbsp; </TD>
    <TD noWrap align=right width="4%"><B><FONT face=serif size=2>&#151;</FONT></B>
    </TD>
    <TD noWrap align=left width="1%">&nbsp; </TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="4%">&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="88%" bgColor=#c0c0c0>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face=serif size=2>Net
      transfers to participants-directed investments</FONT>&nbsp; </TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0>&nbsp; </TD>
    <TD noWrap align=right width="4%" bgColor=#c0c0c0><B><FONT face=serif size=2>(139,302</FONT></B> </TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0><B><FONT face=serif size=2>)</FONT></B>&nbsp; </TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="4%" bgColor=#c0c0c0>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="88%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face=serif size=2>Interest and dividend income</FONT>&nbsp; </TD>
    <TD noWrap align=left width="1%">&nbsp; </TD>
    <TD noWrap align=right width="4%"><B><FONT face=serif size=2>17,665</FONT></B> </TD>
    <TD noWrap align=left width="1%">&nbsp;</TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="4%">&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="88%" bgColor=#c0c0c0>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face=serif size=2>Benefits paid</FONT>&nbsp; </TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0>&nbsp;</TD>
    <TD noWrap align=right width="4%" bgColor=#c0c0c0><B><FONT face=serif size=2>(198,250</FONT></B> </TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0><B><FONT face=serif size=2>)</FONT></B>&nbsp; </TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="4%" bgColor=#c0c0c0>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="88%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face=serif size=2>Appreciation in fair value of investments</FONT>&nbsp;
    </TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%">&nbsp; </TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="4%"><B><FONT face=serif size=2>(795,781</FONT></B> </TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%"><B><FONT face=serif size=2>)</FONT></B>&nbsp; </TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="4%">&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="88%" bgColor=#c0c0c0>&nbsp; </TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=left width="1%" bgColor=#c0c0c0><B><FONT face=serif size=2>$</FONT></B>&nbsp; </TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=right width="4%" bgColor=#c0c0c0><B><FONT face=serif size=2>(1,115,668</FONT></B> </TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=left width="1%" bgColor=#c0c0c0><B><FONT face=serif size=2>)</FONT></B>&nbsp; </TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0>&nbsp;</TD>
    <TD noWrap align=left width="4%" bgColor=#c0c0c0>&nbsp;
</TD></TR></TABLE></DIV><BR>
<P align=left><B><FONT face=serif size=2>Note 4 &#150; Plan Termination
<BR></FONT></B><FONT face=serif size=2>Although it has not expressed intent to
do so, the Company has the right under the Plan to discontinue its contributions
at any time and to terminate the Plan, subject to the provisions of ERISA. In
the event of Plan termination, participants will become 100% vested in their
accounts. The Company may elect to have all assets transferred to another
qualified plan in which all participants who would have otherwise received a
distribution will have an interest, and each participant&#146;s interest will be
nonforfeitable as to amounts attributable to assets transferred on his or her
behalf. </FONT></P>
<P align=left><B><FONT face=serif size=2>Note 5 &#150; Income Tax Status
<BR></FONT></B><FONT face=serif size=2>The Plan received its latest
determination letter in 2001. The Plan Sponsor has amended and restated the Plan
effective January 1, 2003 by adopting the Retirement Plan Services, LLC
prototype document. The amended Plan has not been submitted to the Internal
Revenue Service for a letter of determination certifying that the Plan continues
to qualify as exempt from Federal income taxes; however, in the opinion of the
Plan Administrator, the Plan and its underlying trust have operated within the
terms of the Plan and remain qualified under the applicable provisions of the
Internal Revenue Code.</FONT></P>
<P align=left><B><FONT face=serif size=2>Note 6 &#150; Transactions With
Parties-In-Interest <BR></FONT></B><FONT face=serif size=2>During 2007 and 2006,
the Plan purchased 7,024 and 639 common shares, respectively, of Enterprise
Financial Services Corp (NASDAQ: EFSC), the Plan Sponsor. The Plan also sold or
distributed a total of 20,203 and 8,527 common shares, respectively, of
Enterprise Financial Services Corp during 2007 and 2006. All shares were bought
or sold on the open market. </FONT></P>
<P align=left><FONT face=serif size=2>The Company owns a 10% membership interest
in Retirement Plan Services, LLC, the third-party Plan Administrator.</FONT></P>
<P align=left><B><FONT face=serif size=2>Note 7 &#150; New Accounting Pronouncements
<BR></FONT></B><FONT face=serif size=2>On September 20, 2006, the Financial
Accounting Standards Board released Statement of Financial Accounting Standards
No. 157, </FONT><I><FONT face=serif size=2>Fair Value
Measurements</FONT></I><FONT face=serif size=2> (SFAS 157). SFAS 157 establishes
an authoritative definition of fair value, sets out a hierarchy for measuring
fair value, and requires additional disclosures about the inputs used to develop
the measurements of fair value and the effects of certain measurements reported
in the statement of operations for a fiscal period. The application of SFAS 157
will be effective for the Plan&#146;s fiscal year beginning January 1, 2008. The
adoption of SFAS 157 is not anticipated to have a material impact on the Plan&#146;s
financial statements. </FONT></P>
<P align=center><FONT face=serif size=2>- 7 - </FONT></P>
<HR align=center width="100%" noShade SIZE=2>
<PAGE>
<P align=left><B><FONT face=serif size=2>Note 8 &#150; Subsequent Events
<BR></FONT></B><FONT face=serif size=2>Effective January 1, 2008, the Plan name
was changed to EFSC Incentive Savings Plan. In addition, a common stock fund
containing Enterprise Financial Services Corp common stock was added as a
participant-directed investment. EFSC common stock in the plan as of December
31, 2007 was from company matches in 2001 through 2005. </FONT></P>
<P align=center><FONT face=serif size=2>- 8 - </FONT></P>
<HR align=center width="100%" noShade SIZE=2>
<PAGE>
<P align=center><B><FONT face=serif size=2>REPORT OF INDEPENDENT REGISTERED
PUBLIC ACCOUNTING FIRM ON <BR>SUPPLEMENTARY INFORMATION</FONT></B></P>
<P align=left><FONT face=serif size=2>Our audit was performed for the purpose of
forming an opinion on the basic financial statements taken as a whole. The
supplemental schedule of assets held at end of year is presented for purposes of
additional analysis and is not a required part of the basic financial
statements, but is supplementary information required by the Department of
Labor&#146;s Rules and Regulations for Reporting and Disclosure under the Employee
Retirement Income Security Act of 1974. This supplemental schedule is the
responsibility of the Plan&#146;s management. The supplemental schedule has been
subjected to the auditing procedures applied in the audit of the basic financial
statements and, in our opinion, is fairly stated in all material respects in
relation to the basic financial statements taken as a whole. </FONT></P>
<P align=left><FONT face=serif size=2>/s/ RubinBrown LLP <BR>St. Louis, Missouri
<BR>June 30, 2008 </FONT></P>
<P align=center><FONT face=serif size=2>- 9 - </FONT></P>
<HR align=center width="100%" noShade SIZE=2>
<PAGE>
<P align=center><B><FONT face=serif size=2>ENTERPRISE BANK INCENTIVE SAVINGS
PLAN <BR>SUPPLEMENTAL SCHEDULE </FONT></B></P>
<P align=center><B><FONT face=serif size=2>EIN: 43-1706259 PLAN: 001
<BR></FONT></B><B><FONT face=serif size=2>SCHEDULE OF ASSETS HELD AT END OF YEAR
<BR>December 31, 2007 </FONT></B></P>
<DIV align=center>
<TABLE cellSpacing=0 cellPadding=0 width="90%" border=0>

  <TR vAlign=bottom>
    <TD noWrap align=left width="34%">&nbsp; </TD>
    <TD noWrap align=left width="63%">&nbsp; </TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=right width="1%"><B><FONT face=serif size=2>Current</FONT></B>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="34%"><B><FONT face=serif size=2>Issuer</FONT></B>&nbsp; </TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="63%"><B><FONT face=serif size=2>Description Of
      Investment</FONT></B>&nbsp; </TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%">&nbsp;&nbsp;&nbsp;&nbsp; </TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="1%"><B><FONT face=serif size=2>Value</FONT></B>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="34%" bgColor=#c0c0c0>&nbsp; &nbsp;<FONT face=serif size=2>Enterprise Financial Services Corp*</FONT>&nbsp; </TD>
    <TD noWrap align=left width="63%" bgColor=#c0c0c0>&nbsp; &nbsp;<FONT face=serif size=2>Common stock, 78,255 shares</FONT>&nbsp; </TD>
    <TD noWrap align=right width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="1%" bgColor=#c0c0c0><FONT face=serif size=2>$</FONT> </TD>
    <TD noWrap align=right width="1%" bgColor=#c0c0c0><FONT face=serif size=2>1,863,252</FONT>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="34%">&nbsp; &nbsp;<FONT face=serif size=2>CRM
      Funds</FONT>&nbsp; </TD>
    <TD noWrap align=left width="63%">&nbsp; &nbsp;<FONT face=serif size=2>CRM
      Mid-Cap Value Fund</FONT>&nbsp; </TD>
    <TD noWrap align=right width="1%"></TD>
    <TD noWrap align=right width="1%"></TD>
    <TD noWrap align=right width="1%"><FONT face=serif size=2>1,013,406</FONT>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="34%" bgColor=#c0c0c0>&nbsp; &nbsp;<FONT face=serif size=2>Davis Funds</FONT>&nbsp; </TD>
    <TD noWrap align=left width="63%" bgColor=#c0c0c0>&nbsp; &nbsp;<FONT face=serif size=2>Davis NY Venture A</FONT>&nbsp; </TD>
    <TD noWrap align=right width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="1%" bgColor=#c0c0c0><FONT face=serif size=2>1,150,252</FONT>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="34%">&nbsp; &nbsp;<FONT face=serif size=2>Dodge and Cox Funds</FONT>&nbsp; </TD>
    <TD noWrap align=left width="63%">&nbsp; &nbsp;<FONT face=serif size=2>Dodge and Cox Stock Fund</FONT>&nbsp; </TD>
    <TD noWrap align=right width="1%"></TD>
    <TD noWrap align=right width="1%"></TD>
    <TD noWrap align=right width="1%"><FONT face=serif size=2>786,547</FONT>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="34%" bgColor=#c0c0c0>&nbsp; &nbsp;<FONT face=serif size=2>American Funds</FONT>&nbsp; </TD>
    <TD noWrap align=left width="63%" bgColor=#c0c0c0>&nbsp; &nbsp;<FONT face=serif size=2>Europacific Growth Fund R4</FONT>&nbsp; </TD>
    <TD noWrap align=right width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="1%" bgColor=#c0c0c0><FONT face=serif size=2>1,500,662</FONT>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="34%">&nbsp; &nbsp;<FONT face=serif size=2>Federated Investors</FONT>&nbsp; </TD>
    <TD noWrap align=left width="63%">&nbsp; &nbsp;<FONT face=serif size=2>Federated Capital Preservation Fund</FONT>&nbsp; </TD>
    <TD noWrap align=right width="1%"></TD>
    <TD noWrap align=right width="1%"></TD>
    <TD noWrap align=right width="1%"><FONT face=serif size=2>712,296</FONT>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="34%" bgColor=#c0c0c0>&nbsp; &nbsp;<FONT face=serif size=2>American Funds</FONT>&nbsp; </TD>
    <TD noWrap align=left width="63%" bgColor=#c0c0c0>&nbsp; &nbsp;<FONT face=serif size=2>Growth Fund of America</FONT>&nbsp; </TD>
    <TD noWrap align=right width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="1%" bgColor=#c0c0c0><FONT face=serif size=2>1,722,866</FONT>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="34%">&nbsp; &nbsp;<FONT face=serif size=2>PIMCO Funds</FONT>&nbsp; </TD>
    <TD noWrap align=left width="63%">&nbsp; &nbsp;<FONT face=serif size=2>PIMCO Total Return</FONT>&nbsp; </TD>
    <TD noWrap align=right width="1%"></TD>
    <TD noWrap align=right width="1%"></TD>
    <TD noWrap align=right width="1%"><FONT face=serif size=2>1,356,432</FONT>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="34%" bgColor=#c0c0c0>&nbsp; &nbsp;<FONT face=serif size=2>Third Avenue Fund</FONT>&nbsp; </TD>
    <TD noWrap align=left width="63%" bgColor=#c0c0c0>&nbsp; &nbsp;<FONT face=serif size=2>Third Avenue Value Fund</FONT>&nbsp; </TD>
    <TD noWrap align=right width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="1%" bgColor=#c0c0c0><FONT face=serif size=2>793,481</FONT>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="34%">&nbsp; &nbsp;<FONT face=serif size=2>Turner Funds</FONT>&nbsp; </TD>
    <TD noWrap align=left width="63%">&nbsp; &nbsp;<FONT face=serif size=2>Turner Mid-Cap Growth Fund I</FONT>&nbsp; </TD>
    <TD noWrap align=right width="1%"></TD>
    <TD noWrap align=right width="1%"></TD>
    <TD noWrap align=right width="1%"><FONT face=serif size=2>826,850</FONT>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="34%" bgColor=#c0c0c0>&nbsp; &nbsp;<FONT face=serif size=2>Trendstar Funds</FONT>&nbsp; </TD>
    <TD noWrap align=left width="63%" bgColor=#c0c0c0>&nbsp; &nbsp;<FONT face=serif size=2>Trendstar Small-Cap Fund</FONT>&nbsp; </TD>
    <TD noWrap align=right width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="1%" bgColor=#c0c0c0><FONT face=serif size=2>810,076</FONT>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="34%">&nbsp; &nbsp;<FONT face=serif size=2>Tweedy Browne Company, LLC</FONT>&nbsp; </TD>
    <TD noWrap align=left width="63%">&nbsp; &nbsp;<FONT face=serif size=2>Tweedy Browne Global Value Fund</FONT>&nbsp; </TD>
    <TD noWrap align=right width="1%"></TD>
    <TD noWrap align=right width="1%">&nbsp;</TD>
    <TD noWrap align=right width="1%"><FONT face=serif size=2>761,745</FONT>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="34%" bgColor=#c0c0c0>&nbsp; &nbsp;<FONT face=serif size=2>Vanguard Funds</FONT>&nbsp; </TD>
    <TD noWrap align=left width="63%" bgColor=#c0c0c0>&nbsp; &nbsp;<FONT face=serif size=2>Vanguard 500 500 Index Signal</FONT>&nbsp; </TD>
    <TD noWrap align=right width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="1%" bgColor=#c0c0c0><FONT face=serif size=2>1,311,163</FONT>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="34%">&nbsp; &nbsp;<FONT face=serif size=2>Participant loans</FONT>&nbsp; </TD>
    <TD noWrap align=left width="63%">&nbsp; &nbsp;<FONT face=serif size=2>Interest rate range from 5.00% to 10.00%</FONT>&nbsp; </TD>
    <TD noWrap align=right width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="1%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="1%"><FONT face=serif size=2>257,740</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="100%" bgColor=#ffffff colSpan=5>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="34%" bgColor=#c0c0c0><FONT face=serif size=2>Total Investments</FONT>&nbsp; </TD>
    <TD noWrap align=left width="63%" bgColor=#c0c0c0>&nbsp; </TD>
    <TD noWrap align=right width="1%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=right width="1%" bgColor=#c0c0c0><FONT face=serif size=2>&nbsp;$</FONT> </TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=right width="1%" bgColor=#c0c0c0><FONT face=serif size=2>&nbsp;&nbsp;&nbsp;14,866,768</FONT>&nbsp;
</TD></TR></TABLE></DIV><BR>
<P align=justify><FONT face=serif size=2>* Represents a party-in-interest
</FONT></P>
<P align=justify><FONT face=serif size=2>The above information is a required
disclosure for IRS Form 5500, Schedule H, Part IV, line 4i. </FONT></P>
<P align=center><FONT face=serif size=2>- 10 - </FONT></P>
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<P align=center><B><FONT face=serif size=2>SIGNATURE</FONT></B></P>
<P align=justify><FONT face=serif size=2>Pursuant to the requirements of the
Securities Exchange Act of 1934, the trustees (or other persons who administer
the employee benefit plan) have duly caused this annual report to be signed on
its behalf by the undersigned hereunto duly authorized. </FONT></P>
<TABLE cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=bottom>
    <TD noWrap align=left width="49%"><FONT face=serif size=2>Date: June 30,
      2008</FONT>&nbsp; </TD>
    <TD noWrap align=left width="50%"><FONT face=serif size=2>Enterprise Bank
      Incentive Savings Plan</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="99%" colSpan=2>&nbsp;&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="49%">&nbsp; </TD>
    <TD noWrap align=left width="50%"><U><FONT face=serif size=2>/s/ Deborah
      N. Barstow</FONT></U>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="49%">&nbsp; </TD>
    <TD noWrap align=left width="50%"><FONT face=serif size=2>Deborah N.
      Barstow</FONT>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="49%">&nbsp; </TD>
    <TD noWrap align=left width="50%"><FONT face=serif size=2>Senior Vice
      President &amp; Controller</FONT>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="49%">&nbsp; </TD>
    <TD noWrap align=left width="50%"><FONT face=serif size=2>Enterprise
      Financial Services Corp</FONT>&nbsp; </TD></TR></TABLE><BR>
<P align=center><FONT face=serif size=2>- 11 - </FONT></P>
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<TYPE>EX-23
<SEQUENCE>2
<FILENAME>exhibit_23.htm
<DESCRIPTION>CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
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<P align=right><B><FONT face=serif size=2>Exhibit 23 </FONT></B></P>
<P align=center><B><FONT face=serif size=2>CONSENT OF INDEPENDENT REGISTERED
PUBLIC ACCOUNTING FIRM <BR>&nbsp;</FONT></B></P>
<P align=justify><FONT face=serif size=2>We hereby consent to the incorporation
by reference in the Registration Statement on Form S-8 (No. 333-148238) of
Enterprise Financial Services Corp of our reports dated June 30, 2008 relating to
the financial statements and supplemental schedule of Enterprise Bank Incentive Savings Plan, which
appears in this Form 11-K.</FONT></P>
<P align=justify><FONT face=serif size=2>&nbsp;<BR>/s/ RubinBrown LLP <BR>St.
Louis, Missouri <BR>June 30, 2008 </FONT></P>
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