<SUBMISSION>
<ACCESSION-NUMBER>0001206774-09-001197
<TYPE>S-3
<PUBLIC-DOCUMENT-COUNT>4
<FILING-DATE>20090617
<DATE-OF-FILING-DATE-CHANGE>20090617
<FILER>
<COMPANY-DATA>
<CONFORMED-NAME>ENTERPRISE FINANCIAL SERVICES CORP
<CIK>0001025835
<ASSIGNED-SIC>6022
<IRS-NUMBER>431706259
<STATE-OF-INCORPORATION>DE
<FISCAL-YEAR-END>1231
</COMPANY-DATA>
<FILING-VALUES>
<FORM-TYPE>S-3
<ACT>33
<FILE-NUMBER>333-160032
<FILM-NUMBER>09896324
</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>S-3
<SEQUENCE>1
<FILENAME>enterprise_s3.htm
<DESCRIPTION>REGISTRATION STATEMENT FOR SPECIFIED TRANSACTIONS BY CERTAIN ISSUERS
<TEXT>

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<P align=center><B><FONT face=serif size=2>As filed with the U.S. Securities and
Exchange Commission on June 17, 2009</FONT></B></P>
<P align=right><B><FONT face=serif size=2>Registration No. 333-
___________</FONT></B></P>
<P align=center><B><FONT face=serif size=4>UNITED STATES<BR></FONT></B><B><FONT face=serif size=4>SECURITIES AND EXCHANGE COMMISSION <BR></FONT></B><B><FONT face=serif>Washington, D.C. 20549</FONT></B></P>
<P align=center><B><FONT face=serif size=5>FORM S-3<BR></FONT></B><B><FONT face=serif>REGISTRATION STATEMENT <BR>UNDER THE SECURITIES ACT OF
1933</FONT></B></P>
<P align=center><B><FONT face=serif size=1>____________________ </FONT></B></P>
<P align=center><B><FONT face=serif size=6>ENTERPRISE FINANCIAL SERVICES
<BR>CORP<BR></FONT></B><FONT face=serif size=2>(Exact Name of Registrant as
Specified in its Charter) </FONT></P>
<TABLE cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=bottom>
    <TD noWrap align=center width="50%"><B><FONT face=serif size=2>Delaware</FONT></B> </TD>
    <TD noWrap align=center width="49%"><B><FONT face=serif size=2>43-1706529</FONT></B> </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=center width="50%"><FONT face=serif size=2>(State or
      other jurisdiction of incorporation or</FONT> </TD>
    <TD noWrap align=center width="49%"><FONT face=serif size=2>(I.R.S.
      Employer Identification No.)</FONT> </TD></TR>
  <TR>
    <TD noWrap align=center width="50%"><FONT size=2>organization)</FONT> </TD>
    <TD noWrap align=center width="49%"></TD></TR></TABLE><BR>
<P align=center><B><FONT face=serif size=1>____________________ </FONT></B></P>
<P align=center><FONT size=2><B>150 North Meramec <BR>Clayton, Missouri 63105
<BR>(314) 725-5500</B></FONT> <BR><FONT face=serif size=2>(Address, including
zip code, and telephone number, including area code, of Registrant&#146;s principal
executive offices)</FONT><B><FONT face=serif size=2> <BR></FONT></B><B><FONT face=serif size=1>____________________ </FONT></B></P>
<P align=center><B><FONT face=serif size=2>Frank H. Sanfilippo <BR>Chief
Financial Officer <BR>Enterprise Financial Services Corp <BR>150 North Meramec
<BR>Clayton, Missouri 63105 <BR>(314) 725-5500</FONT></B><FONT face=serif size=2> <BR></FONT><FONT face=serif size=2>(Name, address, including zip code,
and telephone number, including area code, of agent for service for Registrant)
<BR></FONT><B><FONT face=serif size=1>____________________ </FONT></B></P>
<P align=center><B><FONT face=serif size=2>with copies to: <BR>Charles E. H.
Luedde, Esq. <BR></FONT></B><B><FONT face=serif size=2>Phillip R. Stanton, Esq.
<BR>Greensfelder, Hemker &amp; Gale, P.C. <BR></FONT></B><B><FONT face=serif size=2>10 South Broadway, Suite 2000 <BR>St. Louis, Missouri 63102 <BR>(314)
241-9090</FONT></B><FONT face=serif size=2> <BR></FONT><B><FONT face=serif size=1>____________________ </FONT></B></P>
<P align=justify><B><FONT face=serif size=2>Approximate date of commencement of
proposed sale to the public: </FONT></B><FONT face=serif size=2>From time to
time after this Registration Statement becomes effective.</FONT></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face=serif size=2>If the
only securities being registered on this Form are being offered pursuant to
dividend or interest reinvestment plans, please check the following box.
</FONT><FONT face=wingdings size=2>o</FONT></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face=serif size=2>If any of
the securities being registered on this Form are to be offered on a delayed or
continuous basis pursuant to Rule 415 under the Securities Act of 1933, other
than securities offered only in connection with the dividend or interest
reinvestment plans, check the following box. <FONT face=Wingdings>&#254;</FONT></FONT></P>
<P align=center><FONT face=serif size=2>1</FONT></P>
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<PAGE>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face=serif size=2>If this
Form is filed to register additional securities for an offering pursuant to Rule
462(b) under the Securities Act, please check the following box and list the
Securities Act registration statement number of the earlier effective
registration statement for the same offering. </FONT><FONT face=Wingdings size=2>o</FONT></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face=serif size=2>If this
Form is a post-effective amendment filed pursuant to Rule 462(c) under the
Securities Act, check the following box and list the Securities Act registration
statement number of the earlier effective registration statement for the same
offering. </FONT><FONT face=Wingdings size=2>o</FONT></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face=serif size=2>If this
Form is a registration statement pursuant to General Instruction I.D. or a
post-effective amendment hereto that shall become effective upon filing with the
Commission pursuant to Rule 462(e) under the Securities Act, check the following
box. </FONT><FONT face=Wingdings size=2>o</FONT></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face=serif size=2>If this
Form is a post-effective amendment to a registration statement filed pursuant to
General Instruction I.D. filed to register additional securities or additional
classes of securities pursuant to Rule 413(b) under the Securities Act, check
the following box. </FONT><FONT face=Wingdings size=2>o</FONT></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face=serif size=2>Indicate
by check mark whether the registrant is a large accelerated filer, an
accelerated filer, a non-accelerated filer or a smaller reporting company. See
the definitions of &#147;large accelerated filer,&#148; &#147;accelerated filer&#148; and &#147;smaller
reporting company&#148; in Rule 12b-2 of the Exchange Act. (Check one):</FONT></P>
<DIV align=center>
<TABLE cellSpacing=0 cellPadding=0 width="80%" border=0>

  <TR vAlign=bottom>
    <TD noWrap align=left width="26%"><FONT face=serif size=2>Large
      accelerated filer </FONT><FONT face=Wingdings size=2>o</FONT> </TD>
    <TD noWrap align=right width="73%"><FONT face=serif size=2>Accelerated
      filer </FONT><FONT face=Wingdings size=2>&#254;</FONT> </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="26%"><FONT face=serif size=2>Non-accelerated
      filer </FONT><FONT face=Wingdings size=2>o</FONT> </TD>
    <TD noWrap align=right width="73%"><FONT face=serif size=2>Smaller
      reporting company </FONT><FONT face=Wingdings size=2>o</FONT> </TD></TR>
  <TR vAlign=bottom>
    <TD align=center width="99%" colSpan=2><FONT face=serif size=2>(Do not
      check if a smaller reporting company)</FONT>
</TD></TR></TABLE></DIV><BR>
<P align=center><B><FONT face=serif size=2>CALCULATION OF REGISTRATION
FEE</FONT></B></P>
<TABLE style="PADDING-RIGHT: 3pt; PADDING-LEFT: 3pt" cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=bottom>
    <TD style="BORDER-TOP: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid" noWrap align=left width="39%">&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid" noWrap align=left width="15%">&nbsp;</TD>
    <TD style="BORDER-TOP: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid" noWrap align=center width="15%"><B><FONT face=serif size=1>Proposed</FONT></B> </TD>
    <TD style="BORDER-TOP: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid" noWrap align=center width="15%"><B><FONT face=serif size=1>Proposed</FONT></B> </TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-TOP: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid" noWrap align=left width="15%">&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-LEFT: #000000 1pt solid" noWrap align=left width="39%">&nbsp;</TD>
    <TD style="BORDER-LEFT: #000000 1pt solid" noWrap align=center width="15%"><B><FONT face=serif size=1>Amount to be</FONT></B> </TD>
    <TD style="BORDER-LEFT: #000000 1pt solid" noWrap align=center width="15%"><B><FONT face=serif size=1>Maximum Offering</FONT></B> </TD>
    <TD style="BORDER-LEFT: #000000 1pt solid" noWrap align=center width="15%"><B><FONT face=serif size=1>Maximum Aggregate</FONT></B> </TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid" noWrap align=center width="15%"><B><FONT face=serif size=1>Amount
      of</FONT></B> </TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="39%"><B><FONT face=serif size=1>Title of Each
      Class of Securities to be Registered</FONT></B> </TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="15%"><B><FONT face=serif size=1>Registered
      (1)</FONT></B> </TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="15%"><B><FONT face=serif size=1>Price Per
      Unit</FONT></B> </TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="15%"><B><FONT face=serif size=1>Offering Price
      (2)</FONT></B> </TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="15%"><B><FONT face=serif size=1>Registration
      Fee</FONT></B> </TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="39%"><FONT face=serif size=2>Preferred Stock,
      $.01 par value per share</FONT> </TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="15%"><FONT face=serif size=2>(3)</FONT> </TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="15%"><FONT face=serif size=2>(3)</FONT> </TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="15%"><FONT face=serif size=2>(3)</FONT> </TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="15%"><FONT face=serif size=2>(4)</FONT> </TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="39%"><FONT face=serif size=2>Common Stock, $.01
      par value per share</FONT> </TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="15%"><FONT face=serif size=2>(3)</FONT> </TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="15%"><FONT face=serif size=2>(3)</FONT> </TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="15%"><FONT face=serif size=2>(3)</FONT> </TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="15%"><FONT face=serif size=2>(4)</FONT> </TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="39%"><FONT face=serif size=2>Depositary Shares
      (5)</FONT> </TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="15%"><FONT face=serif size=2>(3)</FONT> </TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="15%"><FONT face=serif size=2>(3)</FONT> </TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="15%"><FONT face=serif size=2>(3)</FONT> </TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="15%"><FONT face=serif size=2>(4)</FONT> </TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="39%"><FONT face=serif size=2>Senior Debt
      Securities</FONT> </TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="15%"><FONT face=serif size=2>(3)</FONT> </TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="15%"><FONT face=serif size=2>(3)</FONT> </TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="15%"><FONT face=serif size=2>(3)</FONT> </TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="15%"><FONT face=serif size=2>(4)</FONT> </TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="39%"><FONT face=serif size=2>Subordinated Debt
      Securities</FONT> </TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="15%"><FONT face=serif size=2>(3)</FONT> </TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="15%"><FONT face=serif size=2>(3)</FONT> </TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="15%"><FONT face=serif size=2>(3)</FONT> </TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="15%"><FONT face=serif size=2>(4)</FONT> </TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="39%"><FONT face=serif size=2>Rights to Purchase
      Common Stock</FONT> </TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="15%"><FONT face=serif size=2>(3)</FONT> </TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="15%"><FONT face=serif size=2>(3)</FONT> </TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="15%"><FONT face=serif size=2>(3)</FONT> </TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="15%"><FONT face=serif size=2>(4)</FONT> </TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="39%"><FONT face=serif size=2>Purchase
      Contracts</FONT> </TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="15%"><FONT face=serif size=2>(3)</FONT> </TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="15%"><FONT face=serif size=2>(3)</FONT> </TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="15%"><FONT face=serif size=2>(3)</FONT> </TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="15%"><FONT face=serif size=2>(4)</FONT> </TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="39%"><FONT face=serif size=2>Warrants</FONT> </TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="15%"><FONT face=serif size=2>(3)</FONT> </TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="15%"><FONT face=serif size=2>(3)</FONT> </TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="15%"><FONT face=serif size=2>(3)</FONT> </TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="15%"><FONT face=serif size=2>(4)</FONT> </TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="39%"><FONT face=serif size=2>Units (6)</FONT> </TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="15%"><FONT face=serif size=2>(3)</FONT> </TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="15%"><FONT face=serif size=2>(3)</FONT> </TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="15%"><FONT face=serif size=2>(3)</FONT> </TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="15%"><FONT face=serif size=2>(4)</FONT> </TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="39%"><B><FONT face=serif size=2>TOTAL:</FONT></B>
    </TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="15%"><FONT face=serif size=2>-</FONT> </TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="15%"><FONT face=serif size=2>-</FONT> </TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="15%"><FONT face=serif size=2>$35,000,000
      (4)</FONT> </TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="15%"><FONT face=serif size=2>$</FONT><B><FONT face=serif size=2>[1,953] </FONT></B><FONT face=serif size=2>(4)</FONT>
  </TD></TR></TABLE><BR>
<TABLE style="TEXT-ALIGN: justify" cellSpacing=0 cellPadding=0 border=0>

  <TR>
    <TD vAlign=top noWrap><FONT face=serif size=2>(1)</FONT></TD>
    <TD vAlign=top noWrap>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD vAlign=top width="100%"><FONT face=serif size=2>Includes such
      additional number of shares of common stock, of a currently indeterminable
      amount, as may from time to time become issuable by reason of any stock
      split, stock dividend, recapitalization and/or other similar transaction
      effected without the receipt of consideration which results in an increase
      in the number of shares of common stock.</FONT></TD></TR>
  <TR>
    <TD vAlign=top width="100%" colSpan=3>&nbsp; </TD></TR>
  <TR>
    <TD vAlign=top noWrap><FONT face=serif size=2>(2)</FONT></TD>
    <TD vAlign=top noWrap></TD>
    <TD vAlign=top width="100%"><FONT face=serif size=2>Information as to each
      class of securities to be registered is not specified in accordance with
      General Instruction II.D to Form S-3 under the Securities Act of 1933, as
      amended.</FONT></TD></TR>
  <TR>
    <TD vAlign=top width="100%" colSpan=3>&nbsp; </TD></TR>
  <TR>
    <TD vAlign=top noWrap><FONT face=serif size=2>(3)</FONT></TD>
    <TD vAlign=top noWrap></TD>
    <TD vAlign=top width="100%"><FONT face=serif size=2>An indeterminate
      number of securities of each identified class is being registered as may
      from time to time be offered for sale at indeterminate prices, with an
      aggregate public offering price not to exceed $35,000,000. Separate
      consideration may or may not be received for securities that are issuable
      on exercise, conversion or exchange of other securities or that are issued
      in units. Information as to each class of securities to be registered is
      not specified in accordance with General Instruction II.D. to Form S-3
      under the Securities Act of 1933, as amended.</FONT></TD></TR>
  <TR>
    <TD vAlign=top width="100%" colSpan=3>&nbsp; </TD></TR>
  <TR>
    <TD vAlign=top noWrap><FONT face=serif size=2>(4)</FONT></TD>
    <TD vAlign=top noWrap></TD>
    <TD vAlign=top width="100%"><FONT face=serif size=2>Calculated pursuant to
      Rule 457(o) under the Securities Act of 1933, as amended, and exclusive of
      accrued interest and dividends, if any.</FONT></TD></TR>
  <TR>
    <TD vAlign=top width="100%" colSpan=3>&nbsp; </TD></TR>
  <TR>
    <TD vAlign=top noWrap><FONT face=serif size=2>(5)</FONT></TD>
    <TD vAlign=top noWrap></TD>
    <TD vAlign=top width="100%"><FONT face=serif size=2>Each depositary share
      will be issued under a deposit agreement, will represent fractional
      interests in debt securities or shares of common stock and will be
      evidenced by a depositary receipt.</FONT></TD></TR>
  <TR>
    <TD vAlign=top noWrap>&nbsp;</TD>
    <TD vAlign=top noWrap></TD>
    <TD vAlign=top width="100%">&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top noWrap><FONT size=2>(6)</FONT></TD>
    <TD vAlign=top noWrap></TD>
    <TD vAlign=top width="100%"><FONT size=2>Each unit will be issued under a
      unit agreement and will be comprised of an interest in our common stock
      and rights to purchase our common stock, which may or may not be separable
      from one another.</FONT></TD></TR></TABLE>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><FONT face=serif size=2>The
Registrant hereby amends this Registration Statement on such date or dates as
may be necessary to delay its effective date until the Registrant shall file a
further amendment which specifically states that this Registration Statement
shall thereafter become effective in accordance with Section 8(a) of the
Securities Act of 1933, as amended, or until this Registration Statement shall
become effective on such date as the Commission, acting pursuant to said Section
8(a), may determine.</FONT></B></P>
<HR align=center width="100%" noShade SIZE=2>
<PAGE>
<P align=justify><FONT face=serif size=2>The information in this preliminary
prospectus is not complete and may be changed. We may not sell any of these
securities or accept your offer to buy any of them until the registration
statement filed with the SEC relating to these securities has been declared
effective by the SEC. This preliminary prospectus is not an offer to sell these
securities and is not soliciting an offer to buy these securities in any state
or other jurisdiction where such offer or sale is not permitted or legal.
</FONT></P>
<P align=center><B><FONT face=serif size=2>SUBJECT TO COMPLETION, DATED JUNE 17,
2009 </FONT></B></P>
<P align=center><B><FONT face=serif size=2>PROSPECTUS</FONT></B><FONT face=serif size=2> </FONT></P>
<P align=center><B><FONT face=serif>ENTERPRISE FINANCIAL SERVICES CORP
</FONT></B></P>
<P align=center><B><FONT face=serif>PREFERRED STOCK <BR>COMMON STOCK
<BR>DEPOSITARY SHARES <BR></FONT></B><B><FONT face=serif>DEBT SECURITIES
<BR></FONT></B><B><FONT face=serif>RIGHTS TO PURCHASE COMMON STOCK <BR>PURCHASE
CONTRACTS <BR></FONT></B><B><FONT face=serif>WARRANTS <BR>UNITS
<BR></FONT></B><FONT face=serif>____________________</FONT></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face=serif size=2>We may
offer and sell, from time to time, in one or more offerings, together or
separately, any combination of the securities described in this prospectus. The
aggregate initial offering price of the securities that we offer will not exceed
$35,000,000. We may offer and sell these securities to or through one or more
underwriters, dealers and agents, or directly to purchasers, on a continuous or
delayed basis. The securities may be sold through ordinary brokerage
transactions or through any other means described in the section entitled &#147;Plan
of Distribution.&#148; We will set forth in the related prospectus supplement the
name of the underwriter or agents, the discount or commission received by them
from us as compensation, our other expenses for the offering and sale of these
securities and the net proceeds we receive from the sale. </FONT></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face=serif size=2>This
prospectus describes some of the general terms that may apply to these
securities and the general manner in which they may be offered. The specific
terms of any securities to be offered, and the specific manner in which they may
be offered, will be described in a supplement to this prospectus. This
prospectus may not be used to sell securities unless accompanied by a prospectus
supplement. Before investing, you should carefully read this prospectus and any
related prospectus supplement.</FONT></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face=serif size=2>The
common stock of Enterprise Financial Services Corp is traded on the NASDAQ
Global Select Market under the trading symbol &#147;EFSC.&#148; The last reported sale
price of the common stock of EFSC on June 16, 2009 was $8.04 per share.
</FONT></P>
<P align=justify><FONT face=serif size=2><FONT size=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><STRONG>Investing in our securities
involves a high degree of risk. See &#147;Risk Factors&#148; beginning on page
3.</STRONG></FONT></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><FONT face=serif size=2>Neither the Securities and Exchange Commission nor any state securities
commission has approved or disapproved of these securities or passed upon the
adequacy or accuracy of this prospectus. Any representation to the contrary is a
criminal offense.</FONT></B></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><FONT face=serif size=2>These
securities are not savings accounts, deposits or other obligations of our bank
subsidiary, any non-bank subsidiary or any other bank and are not insured or
guaranteed by the Federal Deposit Insurance Corporation, the Board of Governors
of the Federal Reserve System or any other governmental agency.</FONT></B></P>
<P align=center><FONT face=serif size=2>The date of this prospectus is June 17,
2009.</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 align=center width="99%" colSpan=2><FONT size=+0><B><FONT face=serif size=2>TABLE OF CONTENTS</FONT></B> </FONT></TD></TR>
  <TR>
    <TD width="99%" colSpan=2></TD></TR>
  <TR>
    <TD width="99%" colSpan=2></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="89%"></TD>
    <TD noWrap align=right width="10%"><FONT size=+0><B><FONT face=serif size=1>Page</FONT></B>&nbsp; </FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="89%" bgColor=#c0c0c0><FONT size=+0><FONT face=serif size=2>ABOUT THIS PROSPECTUS</FONT> </FONT></TD>
    <TD noWrap align=right width="10%" bgColor=#c0c0c0><FONT size=+0><FONT face=serif size=2>1</FONT> </FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="89%"><FONT size=+0><FONT face=serif size=2>WHERE YOU CAN FIND MORE INFORMATION</FONT> </FONT></TD>
    <TD noWrap align=right width="10%"><FONT size=+0><FONT face=serif size=2>1</FONT> </FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="89%" bgColor=#c0c0c0><FONT size=+0><FONT face=serif size=2>A WARNING ABOUT FORWARD-LOOKING STATEMENTS</FONT>
    </FONT></TD>
    <TD noWrap align=right width="10%" bgColor=#c0c0c0><FONT size=+0><FONT face=serif size=2>2</FONT> </FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="89%"><FONT size=+0><FONT face=serif size=2>OUR COMPANY</FONT> </FONT></TD>
    <TD noWrap align=right width="10%"><FONT size=+0><FONT face=serif size=2>3</FONT> </FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="89%" bgColor=#c0c0c0><FONT size=+0><FONT face=serif size=2>RISK FACTORS</FONT> </FONT></TD>
    <TD noWrap align=right width="10%" bgColor=#c0c0c0><FONT size=+0><FONT face=serif size=2>3</FONT> </FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="89%"><FONT size=+0><FONT face=serif size=2>USE OF PROCEEDS</FONT> </FONT></TD>
    <TD noWrap align=right width="10%"><FONT size=+0><FONT face=serif size=2>3</FONT> </FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="89%" bgColor=#c0c0c0><FONT size=+0><FONT face=serif size=2>RATIOS OF EARNINGS TO FIXED CHARGES AND COMBINED FIXED
      CHARGES AND</FONT> </FONT></TD>
    <TD noWrap align=right width="10%" bgColor=#c0c0c0></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="89%" bgColor=#c0c0c0><FONT size=+0><FONT face=serif size=2><FONT size=3>&nbsp;&nbsp;&nbsp;&nbsp; </FONT>PREFERRED
      DIVIDENDS</FONT> </FONT></TD>
    <TD noWrap align=right width="10%" bgColor=#c0c0c0><FONT size=+0><FONT face=serif size=2>4</FONT> </FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="89%"><FONT size=+0><FONT face=serif size=2>DESCRIPTION OF SECURITIES WE MAY OFFER</FONT>&nbsp; </FONT></TD>
    <TD noWrap align=right width="10%"><FONT size=+0><FONT face=serif size=2>4</FONT> </FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="89%" bgColor=#c0c0c0><FONT size=+0><FONT face=serif size=2>DESCRIPTION OF CAPITAL STOCK</FONT> </FONT></TD>
    <TD noWrap align=right width="10%" bgColor=#c0c0c0><FONT size=+0><FONT face=serif size=2>4</FONT> </FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="89%"><FONT size=+0><FONT face=serif size=2>DESCRIPTION OF DEPOSITARY SHARES</FONT> </FONT></TD>
    <TD noWrap align=right width="10%"><FONT size=+0><FONT face=serif size=2>8</FONT> </FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="89%" bgColor=#c0c0c0><FONT size=+0><FONT face=serif size=2>DESCRIPTION OF DEBT SECURITIES</FONT> </FONT></TD>
    <TD noWrap align=right width="10%" bgColor=#c0c0c0><FONT size=+0><FONT face=serif size=2>9</FONT> </FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="89%"><FONT size=+0><FONT face=serif size=2>DESCRIPTION OF RIGHTS</FONT> </FONT></TD>
    <TD noWrap align=right width="10%"><FONT size=+0><FONT face=serif size=2>10</FONT> </FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="89%" bgColor=#c0c0c0><FONT size=+0><FONT face=serif size=2>DESCRIPTION OF PURCHASE CONTRACTS</FONT> </FONT></TD>
    <TD noWrap align=right width="10%" bgColor=#c0c0c0><FONT size=+0><FONT face=serif size=2>11</FONT> </FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="89%"><FONT size=+0><FONT face=serif size=2>DESCRIPTION OF WARRANTS</FONT> </FONT></TD>
    <TD noWrap align=right width="10%"><FONT size=+0><FONT face=serif size=2>12</FONT> </FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="89%" bgColor=#c0c0c0><FONT size=+0><FONT face=serif size=2>DESCRIPTION OF UNITS</FONT> </FONT></TD>
    <TD noWrap align=right width="10%" bgColor=#c0c0c0><FONT size=+0><FONT face=serif size=2>12</FONT> </FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="89%"><FONT size=+0><FONT face=serif size=2>PLAN OF DISTRIBUTION</FONT> </FONT></TD>
    <TD noWrap align=right width="10%"><FONT size=+0><FONT face=serif size=2>13</FONT> </FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="89%" bgColor=#c0c0c0><FONT size=+0><FONT face=serif size=2>LEGAL MATTERS</FONT> </FONT></TD>
    <TD noWrap align=right width="10%" bgColor=#c0c0c0><FONT size=+0><FONT face=serif size=2>14</FONT> </FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="89%"><FONT size=+0><FONT face=serif size=2>EXPERTS</FONT> </FONT></TD>
    <TD noWrap align=right width="10%"><FONT size=+0><FONT face=serif size=2>14</FONT> </FONT></TD></TR></TABLE><BR>
<HR align=center width="100%" noShade SIZE=2>
<PAGE>
<P align=center><B><FONT face=serif size=2>ABOUT THIS PROSPECTUS</FONT></B></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face=serif size=2>This
prospectus is part of a registration statement we filed with the Securities and
Exchange Commission, or the SEC, using a &#147;shelf&#148; registration or continuous
offering process. By using a shelf registration statement, we may, from time to
time, offer and sell any combination of the securities described in this
prospectus in one or more offerings having an initial aggregate offering price
of up to $35,000,000. In this prospectus, we use the term &#147;securities&#148; to refer
to the preferred stock of EFSC, the common stock of EFSC, depositary shares,
debt securities, rights, purchase contracts, warrants and units. For purposes of
this prospectus, &#147;debt securities&#148; refers to both senior debt securities and
subordinated debt securities. </FONT></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face=serif size=2>This
prospectus provides you with a general description of the securities we may
offer. Each time we or any underwriter, dealer or agent sell securities pursuant
to the registration statement, we will also from time to time provide one or
more prospectus supplements containing specific information about the terms of a
particular offering by us or the selling underwriter, dealer or agent. A
prospectus supplement may add to, update or change information in this
prospectus. If any information in this prospectus is inconsistent with a
prospectus supplement, you should rely on the information in that prospectus
supplement. Before purchasing any of our securities, you should carefully read
both this prospectus and, if applicable, any prospectus supplement together with
the additional information described under the section of this prospectus titled
&#147;Where You Can Find More Information.&#148;</FONT></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face=serif size=2>The
registration statement containing this prospectus, including exhibits to the
registration statement, provides additional information about us and the
securities offered under this prospectus. The exhibits to our registration
statement contain the full text of certain contracts and other important
documents that we have summarized in this prospectus. Since these summaries may
not contain all the information that you may find important in deciding whether
to purchase the securities we offer, you should review the full text of these
documents. The registration statement may be read at the SEC website or at the
SEC office mentioned under the section of this prospectus titled &#147;Where You Can
Find More Information.&#148;</FONT></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face=serif size=2>You
should rely only on the information contained or incorporated by reference in
this prospectus and any applicable prospectus supplement. We have not authorized
anyone else to provide you with additional or different information. If anyone
provides you with different or inconsistent information, you should not rely on
it. We are not making an offer of these securities in any state where the offer
or sale is not permitted. You should not assume that the information in this
prospectus or in the documents incorporated by reference is accurate as of any
date other than the date on the front of this prospectus or those documents. Our
business, financial condition, results of operations and prospects may have
changed since those dates. </FONT></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face=serif size=2>Enterprise Financial Services Corp, or EFSC, is a financial holding
company incorporated in the State of Delaware and headquartered in Clayton,
Missouri. In this prospectus, the &#147;Company,&#148; &#147;we,&#148; &#147;our,&#148; &#147;ours,&#148; and &#147;us&#148; refer
to Enterprise Financial Services Corp and its subsidiaries on a consolidated
basis, unless the context otherwise requires. References in this prospectus to
&#147;Enterprise Bank&#148; mean Enterprise Bank &amp; Trust, a Missouri trust company
with banking powers, which is our principal subsidiary.</FONT></P>
<P align=center><B><FONT face=serif size=2>WHERE YOU CAN FIND MORE
INFORMATION</FONT></B></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face=serif size=2>We file
annual, quarterly and current reports, proxy statements and other information
with the SEC. You may read and copy, at prescribed rates, any documents we have
filed with the SEC at its Public Reference Room located at 100 F Street, N.E.,
Washington DC 20549. You may obtain information on the operation of the Public
Reference Room by calling the SEC at 1-800-SEC-0330. Our SEC filings are also
available to the public over the Internet at the SEC&#146;s website at </FONT><FONT face=serif size=2>http:/www.sec.gov</FONT><FONT face=serif size=2>. Copies of
certain information filed by us with the SEC are also available on our website
at </FONT><FONT face=serif size=2>http://www.enterprisebank.com</FONT><FONT face=serif size=2>. However, the information on our website is not a part of,
and is not incorporated into, this prospectus.</FONT></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face=serif size=2>The SEC&#146;s
rules allow us to &#147;incorporate by reference&#148; in this prospectus certain
information in the documents that we file with it, which means that we can
disclose important information to you by referring you to other documents
without restating that information in this prospectus. The information
incorporated by reference into this prospectus is considered to be a part of
this prospectus from the date we file that document. Any information filed by us
with the SEC after the date of this prospectus will automatically update and,
where applicable, supercede any information contained in this prospectus or
incorporated by reference in this prospectus.</FONT></P>
<P align=center><FONT face=serif size=2>1</FONT></P>
<HR align=center width="100%" noShade SIZE=2>
<PAGE>
<P align=justify><FONT face=serif size=2>In all cases, you should rely on the
later information over different information included in this prospectus or
incorporated by reference.</FONT></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face=serif size=2>We
incorporate by reference into this prospectus the documents listed below and all
future filings we make with the SEC under Sections 13(a), 13(c), 14 or 15(d) of
the Securities and Exchange Act of 1934, as amended, on or after the date of
this prospectus and prior to the termination of the offering, except to the
extent that any information contained in such filings is deemed &#147;furnished&#148; and
not filed in accordance with SEC rules:</FONT></P>
<UL style="FONT-SIZE: 10pt; TEXT-ALIGN: justify">
  <LI><FONT face=serif size=2>Our Annual Report on Form 10-K for the year ended
  December 31, 2008, filed on March 16, 2009.<BR>&nbsp;</FONT>
  <LI><FONT face=serif size=2>Definitive Proxy Statement filed with SEC on March
  17, 2009.<BR>&nbsp;</FONT>
  <LI><FONT face=serif size=2>Our Quarterly Report on Form 10-Q for the quarter
  ended March 31, 2009, filed on May 11, 2009.<BR>&nbsp;</FONT>
  <LI><FONT face=serif size=2>Our Current Reports on Form 8-K filed on January
  26, 2009, January 30, 2009, February 6, 2009, March</FONT> <FONT face=serif size=2>17, 2009, April 21, 2009 and April 27, 2009.<BR>&nbsp;</FONT>
  <LI><FONT face=serif size=2>The description of the common stock of EFSC, which
  is contained in a registration statement filed on</FONT> <FONT face=serif size=2>Form S-1, by Registrant with the Commission on October 24, 1996,
  registration number 333-14737,</FONT> <FONT face=serif size=2>including all
  amendments and reports filed for the purpose of updating such
  description.</FONT></LI></UL>
<P align=justify><FONT face=serif size=2><FONT size=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>You may request a copy of these
filings, at no cost, by writing or telephoning us at the following
address:</FONT></P>
<P align=center><FONT face=serif size=2>Frank H. Sanfilippo <BR>Chief Financial
Officer <BR>Enterprise Financial Services Corp <BR>150 North Meramec
<BR>Clayton, Missouri 63105 <BR>(314) 725-5500 </FONT></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face=serif size=2>Any
statement contained in a document incorporated by reference in this prospectus
shall be deemed to be modified or superseded for purposes of this prospectus to
the extent that a statement contained in this prospectus, or in any other
document filed later that is also incorporated in this prospectus by reference,
modifies or supersedes the statement. Any statement so modified or superseded
shall not be deemed to constitute a part of this prospectus except as so
modified or superseded. The information relating to us contained in this
prospectus should be read together with the information contained in any
prospectus supplement and in the documents incorporated in this prospectus and
any prospectus supplement by reference.</FONT></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face=serif size=2>This
prospectus is part of a registration statement we filed with the SEC which
incorporates exhibits. You should read the exhibits to the registration
statement carefully.</FONT></P>
<P align=center><B><FONT face=serif size=2>A WARNING ABOUT FORWARD-LOOKING
STATEMENTS</FONT></B></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face=serif size=2>This
prospectus, any accompanying prospectus supplement and the documents
incorporated by reference contain or incorporate statements that are considered
&#147;forward-looking statements&#148; within the meaning of United States securities
laws. Forward-looking statements typically are identified with use of terms such
as &#147;may,&#148; &#147;will,&#148; &#147;expect,&#148; &#147;anticipate,&#148; &#147;estimate,&#148; &#147;potential,&#148; &#147;could&#148; and
similar words, although some forward-looking statements are expressed
differently. Our ability to predict results or the actual effect of future plans
or strategies is inherently uncertain. You should be aware that the Company&#146;s
actual results could differ materially from those contained in the
forward-looking statements due to a number of factors, including, but not
limited to: burdens imposed by federal and state regulation; changes in
accounting regulation or standards of banks; credit risk; exposure to general
and local economic conditions; risks associated with rapid increase or decrease
in prevailing interest rates; consolidation within the banking industry;
competition from banks and other financial institutions; our ability to attract
and retain relationship officers and other key personnel and technological
developments; and other risks discussed in more detail in the section titled
&#147;Risk Factors&#148; below.</FONT></P>
<P align=center><FONT face=serif size=2>2</FONT></P>
<HR align=center width="100%" noShade SIZE=2>
<PAGE>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face=serif size=2>Readers
are cautioned not to place undue reliance on our forward-looking statements,
which reflect management&#146;s analysis and expectations only as of the date of the
statements. Forward-looking statements speak only as of the date they are made
and the Company does not intend, and undertakes no obligation, to publicly
revise or update forward-looking statements after the date of this prospectus,
whether as a result of new information, future events or otherwise, except as
required by law. Any investor in the Company should also consider all risks and
uncertainties disclosed in our SEC filings described below under the section of
this prospectus titled &#147;Where You Can Find More Information,&#148; all of which are
accessible on the SEC&#146;s website at </FONT><FONT face=serif size=2>http://www.sec.gov</FONT><FONT face=serif size=2>. You should understand
that it is not possible to predict or identify all risk factors. Consequently,
you should not consider such disclosures to be a complete discussion of all
potential risks or uncertainties. </FONT></P>
<P align=center><B><FONT face=serif size=2>OUR COMPANY</FONT></B><FONT face=serif> </FONT></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><FONT face=serif size=2>The
following summary may not contain all of the information that may be important
to you or that you should consider before deciding to purchase the securities,
and is qualified in its entirety by the more detailed information appearing
elsewhere or incorporated by reference in this prospectus. You should read the
entire prospectus, especially the risks set forth under the section of this
prospectus titled &#147;Risk Factors,&#148; as well as the financial and other information
incorporated by reference in this prospectus, before making an investment
decision. </FONT></I><FONT face=serif></FONT></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face=serif size=2>EFSC is a
financial holding company that provides a full range of banking and wealth
management services to individuals and corporate customers located in the St.
Louis and Kansas City metropolitan markets through its banking subsidiary,
Enterprise Bank &amp; Trust. Enterprise Bank also operates a loan production
office in Phoenix, Arizona. In addition, EFSC also owns Millennium Brokerage
Group, LLC. Millennium is headquartered in Nashville, Tennessee and operates
life insurance advisory and brokerage operations from fourteen offices serving
life insurance agents, banks, CPA firms, property and casualty insurance groups,
and financial advisors in 49 states. Enterprise Bank is subject to supervision
and regulation by the Missouri Division of Finance.</FONT></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face=serif size=2>Our
common stock is listed on the NASDAQ Global Select Market under the symbol
&#147;EFSC.&#148; For a discussion of risks and uncertainties involved with an investment
in our securities, see the section of this prospectus titled &#147;Risk Factors.&#148;
</FONT></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face=serif size=2>Our
principal executive offices are located at 150 N. Meramec, Clayton, Missouri
63105 and our telephone number is (314) 725-5500. Our website is </FONT><FONT face=serif size=2>http://www.enterprisebank.com</FONT><FONT face=serif size=2>.
</FONT></P>
<P align=center><B><FONT face=serif size=2>RISK FACTORS</FONT></B></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face=serif size=2>Investing
in our securities involves a high degree of risk. Before purchasing any of our
securities, you should carefully read and consider each of the risk factors set
forth in this prospectus and each of the documents incorporated by reference in
this prospectus, including, without limitation, our Annual Report on Form 10-K
for the fiscal year ended December 31, 2008, as updated by our subsequent
Quarterly Report on Form 10-Q, each of which has been filed with the SEC and
incorporated herein by reference, and the other information contained in this
prospectus, the applicable prospectus supplement, or otherwise incorporated by
reference herein (see the section of this prospectus titled &#147;Where You Can Find
More Information&#148;). Any of these risks could materially adversely affect our
business, financial condition, results of operations, or ability to make
distributions to our stockholders. Additional risks and uncertainties not
currently known to us or that we currently deem to be immaterial may also
materially and adversely affect our business and operations. In any such case,
you could lose all or a portion of your original investment.</FONT><B><FONT face=serif size=2> </FONT></B></P>
<P align=center><B><FONT face=serif size=2>USE OF PROCEEDS</FONT></B></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face=serif size=2>Unless
otherwise specified in the applicable prospectus supplement for any offering of
securities, the net proceeds we receive from the sale of securities offered by
this prospectus will be for one or more of the following: capital expenditures,
repayment or refinancing of indebtedness or other securities from time to time,
working capital, to make acquisitions, or for general corporate purposes.
Pending such use, we may elect, if determined in our sole and absolute
discretion, to temporarily invest net proceeds. We will disclose any proposal to
use the net proceeds from any offering of securities in connection with an
acquisition in the applicable prospectus supplement relating to such
offering.</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>RATIOS OF EARNINGS TO FIXED CHARGES
AND <BR>COMBINED FIXED CHARGES AND PREFERRED DIVIDENDS </FONT></B></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face=serif size=2>The
Company&#146;s ratios of earnings to fixed charges for the three months ended March
31, 2009 and the years ended December 31, 2008, 2007, 2006, 2005 and 2004 are as
follows:</FONT></P>
<P align=justify><I><FONT face=serif size=2>Consolidated Ratios of Earnings to
Fixed Charges</FONT></I></P>
<TABLE cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=bottom>
    <TD noWrap align=left width="81%"></TD>
    <TD noWrap align=center width="2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="2%"><FONT face=serif size=1><FONT size=3>&nbsp; </FONT>Three months
      ended</FONT>&nbsp;&nbsp; </TD>
    <TD noWrap align=left width="1%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="14%" colSpan=9><FONT face=serif size=1>Years ended December 31,</FONT> </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="81%"></TD>
    <TD noWrap align=center width="2%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="2%"><FONT face=serif size=1><FONT size=3>&nbsp; </FONT>March 31,
      2009 (1)</FONT>&nbsp;&nbsp; </TD>
    <TD noWrap align=center width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="2%"><FONT face=serif size=1><FONT size=3>&nbsp;
      </FONT>2008</FONT>&nbsp;&nbsp; </TD>
    <TD noWrap align=center width="1%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="2%"><FONT face=serif size=1><FONT size=3>&nbsp; </FONT>2007
      </FONT>&nbsp; </TD>
    <TD noWrap align=center width="1%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="2%"><FONT face=serif size=1><FONT size=3>&nbsp; </FONT>2006
      </FONT>&nbsp; </TD>
    <TD noWrap align=center width="1%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="2%"><FONT face=serif size=1><FONT size=3>&nbsp; </FONT>2005
      </FONT>&nbsp; </TD>
    <TD noWrap align=center width="1%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="2%"><FONT face=serif size=1><FONT size=3>&nbsp; </FONT>2004
      </FONT>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="81%" bgColor=#c0c0c0><FONT face=serif size=2>Excluding interest on deposits</FONT> </TD>
    <TD noWrap align=center width="2%" bgColor=#c0c0c0></TD>
    <TD noWrap align=center width="2%" bgColor=#c0c0c0><FONT face=serif size=2>-</FONT> </TD>
    <TD noWrap align=center width="1%" bgColor=#c0c0c0>&nbsp;</TD>
    <TD noWrap align=center width="2%" bgColor=#c0c0c0><FONT face=serif size=2>1.53x</FONT> </TD>
    <TD noWrap align=center width="1%" bgColor=#c0c0c0>&nbsp;</TD>
    <TD noWrap align=center width="2%" bgColor=#c0c0c0><FONT face=serif size=2>4.09x</FONT> </TD>
    <TD noWrap align=center width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=center width="2%" bgColor=#c0c0c0><FONT face=serif size=2>5.48x</FONT> </TD>
    <TD noWrap align=center width="1%" bgColor=#c0c0c0>&nbsp;</TD>
    <TD noWrap align=center width="2%" bgColor=#c0c0c0><FONT face=serif size=2>6.74x</FONT> </TD>
    <TD noWrap align=center width="1%" bgColor=#c0c0c0>&nbsp;</TD>
    <TD noWrap align=center width="2%" bgColor=#c0c0c0><FONT face=serif size=2>6.67x</FONT> </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="81%"><FONT face=serif size=2>Including
      interest on deposits</FONT> </TD>
    <TD noWrap align=center width="2%"></TD>
    <TD noWrap align=center width="2%"><FONT face=serif size=2>-</FONT> </TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="2%"><FONT face=serif size=2>1.12x</FONT>
</TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="2%"><FONT face=serif size=2>1.43x</FONT>
</TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="2%"><FONT face=serif size=2>1.55x</FONT>
</TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="2%"><FONT face=serif size=2>1.75x</FONT>
</TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="2%"><FONT face=serif size=2>2.01x</FONT>
  </TD></TR></TABLE><BR>
<TABLE style="TEXT-ALIGN: justify" cellSpacing=0 cellPadding=0 border=0>

  <TR>
    <TD vAlign=top noWrap><FONT face=serif size=2>(1)</FONT></TD>
    <TD vAlign=top noWrap>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD vAlign=top width="100%"><FONT face=serif size=2>Due to the Company&#146;s
      $50.6 million loss (including a $45.4 million goodwill impairment charge)
      for the three months ended March 31, 2009, the ratio coverage was less
      than 1:1. The Company would have had to generate additional earnings of
      $52.9 million to achieve a coverage ratio of
1:1.</FONT></TD></TR></TABLE>
<P align=justify><FONT face=serif size=2>Note: The ratio of earnings to fixed
charges is calculated by adding income before income taxes plus fixed charges
and dividing that sum by fixed charges.</FONT></P>
<P align=justify><FONT face=serif size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The Company&#146;s ratios of earnings to combined fixed charges and preferred stock
dividends for the three months ended March 31, 2009 and the years ended December
31, 2008, 2007, 2006, 2005 and 2004 are as follows: </FONT></P>
<P align=justify><I><FONT face=serif size=2>Consolidated Ratios of Earnings to
Combined Fixed Charges and Preferred Stock Dividends </FONT></I></P>
<TABLE cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=bottom>
    <TD noWrap align=left width="82%"></TD>
    <TD noWrap align=center width="1%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="2%"><FONT face=serif size=1><FONT size=3>&nbsp; </FONT>Three months
      ended</FONT>&nbsp;&nbsp; </TD>
    <TD noWrap align=center width="1%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="14%" colSpan=9><FONT face=serif size=1>Years ended December 31,</FONT> </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="82%"></TD>
    <TD noWrap align=center width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="2%"><FONT face=serif size=1><FONT size=3>&nbsp; </FONT>March 31,
      2009 (1)</FONT>&nbsp;&nbsp; </TD>
    <TD noWrap align=center width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="2%"><FONT face=serif size=1><FONT size=3>&nbsp; </FONT>2008
      </FONT>&nbsp; </TD>
    <TD noWrap align=center width="1%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="2%"><FONT face=serif size=1><FONT size=3>&nbsp; </FONT>2007
      </FONT>&nbsp; </TD>
    <TD noWrap align=center width="1%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="2%"><FONT face=serif size=1><FONT size=3>&nbsp; </FONT>2006
      </FONT>&nbsp; </TD>
    <TD noWrap align=center width="1%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="2%"><FONT face=serif size=1><FONT size=3>&nbsp; </FONT>2005
      </FONT>&nbsp; </TD>
    <TD noWrap align=center width="1%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="2%"><FONT face=serif size=1><FONT size=3>&nbsp; </FONT>2004
      </FONT>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="82%" bgColor=#c0c0c0><FONT face=serif size=2>Excluding interest on deposits</FONT> </TD>
    <TD noWrap align=center width="1%" bgColor=#c0c0c0>&nbsp;</TD>
    <TD noWrap align=center width="2%" bgColor=#c0c0c0><FONT face=serif size=2>-</FONT> </TD>
    <TD noWrap align=center width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=center width="2%" bgColor=#c0c0c0><FONT face=serif size=2>1.53x</FONT> </TD>
    <TD noWrap align=center width="1%" bgColor=#c0c0c0>&nbsp;</TD>
    <TD noWrap align=center width="2%" bgColor=#c0c0c0><FONT face=serif size=2>4.09x</FONT> </TD>
    <TD noWrap align=center width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=center width="2%" bgColor=#c0c0c0><FONT face=serif size=2>5.48x</FONT> </TD>
    <TD noWrap align=center width="1%" bgColor=#c0c0c0>&nbsp;</TD>
    <TD noWrap align=center width="2%" bgColor=#c0c0c0><FONT face=serif size=2>6.74x</FONT> </TD>
    <TD noWrap align=center width="1%" bgColor=#c0c0c0>&nbsp;</TD>
    <TD noWrap align=center width="2%" bgColor=#c0c0c0><FONT face=serif size=2>6.67x</FONT> </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="82%"><FONT face=serif size=2>Including
      interest on deposits</FONT> </TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="2%"><FONT face=serif size=2>-</FONT> </TD>
    <TD noWrap align=center width="1%">&nbsp;</TD>
    <TD noWrap align=center width="2%"><FONT face=serif size=2>1.12x</FONT>
</TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="2%"><FONT face=serif size=2>1.43x</FONT>
</TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="2%"><FONT face=serif size=2>1.55x</FONT>
</TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="2%"><FONT face=serif size=2>1.75x</FONT>
</TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="2%"><FONT face=serif size=2>2.01x</FONT>
  </TD></TR></TABLE><BR>
<TABLE style="TEXT-ALIGN: justify" cellSpacing=0 cellPadding=0 border=0>

  <TR>
    <TD vAlign=top noWrap><FONT face=serif size=2>(1)</FONT></TD>
    <TD vAlign=top noWrap>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD vAlign=top width="100%"><FONT face=serif size=2>Due to the Company&#146;s
      $50.6 million loss (including a $45.4 million goodwill impairment charge)
      for the three months ended March 31, 2009, the ratio coverage was less
      than 1:1. The Company would have had to generate additional earnings of
      $52.9 million to achieve a coverage ratio of
1:1.</FONT></TD></TR></TABLE>
<P align=justify><FONT face=serif size=2>Note: No shares of our Series A
Preferred Stock, or any other class of preferred stock, were outstanding during
the years ended December 31, 2007, 2006, 2005 and 2004, and we did not pay
preferred stock dividends during these periods. Consequently, the ratios of
earnings to combined fixed charges and preferred dividends are the same as the
ratios of earnings to fixed charges for the same periods listed
above.</FONT></P>
<P align=center><B><FONT face=serif size=2>DESCRIPTION OF SECURITIES WE MAY
OFFER</FONT></B></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face=serif size=2>This
prospectus contains summary descriptions of our preferred stock, our common
stock, depositary shares, debt securities, rights, warrants and units that we
may offer from time to time in one or more offerings together or separately.
These summary descriptions are not meant to be complete descriptions of each of
the securities. The particular terms of any offering of securities will be
described in the accompanying prospectus supplement and other offering material.
The accompanying prospectus supplement may add, update or change the terms and
conditions of the securities as described in this prospectus. You should
carefully read this prospectus and any prospectus supplement before you invest
in any of our securities. </FONT></P>
<P align=center><B><FONT face=serif size=2>DESCRIPTION OF OUR CAPITAL STOCK
</FONT></B></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face=serif size=2>The
following is a description of the material features, terms and provisions of our
preferred stock and our common stock. This summary does not purport to be
exhaustive and may not contain all the information that is important to you.
Therefore, you should read our certificate of incorporation (as amended and
together with all certificates of designations) and by-laws which have been
filed with the SEC.</FONT></P>
<P align=center><FONT face=serif size=2>4</FONT></P>
<HR align=center width="100%" noShade SIZE=2>
<PAGE>
<P align=justify><B><FONT face=serif size=2>General</FONT></B></P>
<P align=justify><FONT face=serif size=2><FONT size=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Our authorized capital stock
consists of:</FONT></P>
<P align=justify><FONT face=serif size=2><FONT size=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>30,000,000 shares of the common
stock, par value of $.01 per share, and</FONT></P>
<P align=justify><FONT face=serif size=2><FONT size=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>5,000,000 shares of preferred stock,
par value of $.01 per share.</FONT></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face=serif size=2>As of May
31, 2009, there were 12,833,777 shares of our common stock issued and
outstanding and 35,000 shares of our preferred stock issued and outstanding. All
35,000 shares of preferred stock issued and outstanding consisted of our Fixed
Rate Cumulative Perpetual Preferred Stock, Series A, liquidation preference
amount $1,000 per share (the &#147;Series A Preferred Stock&#148;), which we issued, along
with a ten-year warrant to purchase 324,074 shares of our common stock for
$16.20 per share, to the United States Department of the Treasury (&#147;Treasury&#148;)
on December 19, 2008 pursuant to Treasury&#146;s Capital Purchase Program.</FONT></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face=serif size=2>EFSC may
amend its certificate of incorporation from time to time to increase the number
of authorized shares of our common stock. Any such amendment would require the
approval of the holders of a majority of EFSC&#146;s stock entitled to vote. Our
common stock is listed on the NASDAQ Global Select Market under the symbol
&#147;EFSC.&#148;</FONT></P>
<P align=justify><B><FONT face=serif size=2>Certain Restrictions on Capital
Securities </FONT></B></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face=serif size=2>We are
subject to various regulatory policies and requirements relating to the payment
of dividends, including requirements to maintain adequate capital above
regulatory minimums. The Board of Governors of the Federal Reserve System, or
the Federal Reserve Board, is authorized to determine, under certain
circumstances relating to the financial condition of a financial holding company
such as us, that the payment of dividends would be an unsafe or unsound practice
and to prohibit payment thereof. In addition, we are subject to Delaware state
laws relating to the payment of dividends.</FONT></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face=serif size=2>We depend
on dividends, distributions and other payments from our banking subsidiary,
Enterprise Bank, to fund dividend payments on our common and preferred stock.
Missouri state banking laws and regulations limit the amount of dividends or
other capital distributions that Enterprise Bank may pay generally based on
current operating earnings and regulatory capital requirements.</FONT></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face=serif size=2>In
addition, Enterprise Bank is also subject to regulation and supervision by the
Federal Deposit Insurance Corporation, or FDIC. The FDIC has the authority,
after notice and a hearing, to prevent a depository institution under its
jurisdiction from engaging in an unsafe or unsound practice. Depending on the
financial condition of the depository institution, the payment of dividends
could constitute an unsafe or unsound practice. Under the Federal Deposit
Insurance Corporation Improvement Act of 1991, a depository institution may not
pay any dividend if payment would cause it to become undercapitalized or if it
already is undercapitalized. The federal agencies have also issued policy
statements that provide that bank holding companies and insured banks should
generally only pay dividends out of current operating earnings.</FONT></P>
<P align=justify><B><FONT face=serif size=2>Description of Common Stock
</FONT></B></P>
<P align=justify><FONT face=serif size=2><FONT size=3>&nbsp;&nbsp;&nbsp;</FONT><STRONG><EM>General</EM></STRONG></FONT><FONT face=serif size=2> </FONT></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face=serif size=2>When we
offer to sell any common stock, we will describe the specific terms of the
series in a supplement to this prospectus. The terms of any series of common
stock may differ from the terms described below. Upon our receipt of the full
specified purchase price, the common stock issued will be fully paid and
nonassessable.</FONT></P>
<P align=center><FONT face=serif size=2>5</FONT></P>
<HR align=center width="100%" noShade SIZE=2>
<PAGE>
<P align=justify><FONT face=serif size=2><FONT size=3>&nbsp;&nbsp;&nbsp;</FONT><STRONG><EM>Dividends</EM></STRONG></FONT></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face=serif size=2>Generally
speaking, holders of shares of our common stock will be entitled to receive
dividends, if and when they are authorized and declared by the Company&#146;s Board
of Directors, out of assets that the Company may legally use to pay dividends.
However, the ability of the Company to pay dividends on our common stock will be
subject to the preferential rights of any outstanding shares of our preferred
stock. Under the terms of our Series A Preferred Stock, we may not increase the
dividend paid on our common stock above $0.0525 per share per quarter without
the consent of the Treasury until the earlier to occur of (i) December 19, 2012,
(ii) the date on which all of our preferred stock issued to the Treasury is
redeemed in whole, or (iii) the Treasury has transferred all of the shares of
our preferred stock that it currently holds to third parties. In addition, our
ability to declare or pay dividends or distributions on, or repurchase shares of
our common stock will be subject to restrictions in the event we fail to declare
and pay full dividends on our Series A Preferred Stock (or set aside a sum
sufficient for payment thereof).</FONT></P>
<P align=justify><FONT face=serif size=2><FONT size=3>&nbsp;&nbsp;&nbsp;</FONT><STRONG><EM>Voting
Rights</EM></STRONG></FONT></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face=serif size=2>Except as
otherwise required by law and except as provided by the terms of any other class
or series of stock, holders of our common stock have the exclusive power to vote
on all matters presented to EFSC&#146;s stockholders, including the election of
directors; provided, that holders of our preferred stock may have the exclusive
right to elect directors in certain circumstances, including, without
limitation, if we fail to make certain dividend payments. Holders of our common
stock are entitled to one vote per share, provided that holders of our common
stock have the right to cumulate votes in the election of directors.</FONT></P>
<P align=justify><FONT face=serif size=2><FONT size=3>&nbsp;&nbsp;&nbsp;</FONT><STRONG><EM>Liquidation/Dissolution
Rights</EM></STRONG></FONT></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face=serif size=2>Generally
speaking, the rights of holders of our common stock to receive proceeds from the
liquidation or dissolution of EFSC will be subordinate to the preferential
rights of holders of any preferred stock or other senior securities. In the
event EFSC voluntarily or involuntarily liquidates, dissolves or winds up its
affairs, holders of our issued and outstanding preferred stock will be entitled
to receive an amount per share equal to a fixed liquidation preference per share
applicable to each series of preferred stock, plus any accrued and unpaid
dividends, whether or not declared, to the date of payment. Holders of our
preferred stock will be entitled to receive such total liquidation amount out of
EFSC&#146;s assets that are available for distribution to stockholders, after payment
or provision for payment of EFSC&#146;s debts and other liabilities but before any
distribution of assets is made to holders of our common stock. Subject to these
preferential rights of our preferred stock and the preferential rights of any
other class or series of stock, holders of shares of our common stock are
entitled to receive, in cash or in kind, in proportion to their holdings, the
assets that EFSC may legally use to pay distributions after EFSC pays or makes
adequate provision for all of EFSC&#146;s debts and liabilities if EFSC is
liquidated, dissolved or its affairs are wound up. </FONT></P>
<P align=justify><FONT face=serif size=2><FONT size=3>&nbsp;&nbsp;&nbsp;</FONT><STRONG><EM>Other
Rights</EM></STRONG></FONT></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face=serif size=2>Holders
of our common stock do not have preemptive rights under the Delaware General
Corporation Law, or EFSC&#146;s certificate of incorporation (as amended and together
with all certificates of designations) or by-laws. Shares of our common stock
are not redeemable and have no subscription or conversion rights.</FONT></P>
<P align=justify><FONT face=serif size=2><FONT size=3>&nbsp;&nbsp;&nbsp;</FONT><STRONG><EM>Transfer Agent
</EM></STRONG></FONT><FONT face=serif size=2></FONT></P>
<P align=justify><FONT face=serif size=2><FONT size=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>The transfer agent and registrar for
our common stock is Computershare, Inc., in Canton, Massachusetts.</FONT></P>
<P align=justify><FONT face=serif size=2><FONT size=3>&nbsp;&nbsp;&nbsp;</FONT><STRONG><EM>Restrictions on
Ownership</EM></STRONG></FONT></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face=serif size=2>The Bank
Holding Company Act requires any &#147;bank holding company,&#148; as defined in the Bank
Holding Company Act, to obtain the approval of the Federal Reserve Board prior
to the acquisition of 5% or more of our common stock. Any person, other than a
bank holding company, is required to obtain prior approval of the Federal
Reserve Board to acquire 10% or more of our common stock under the Change in
Bank Control Act. Any holder of 25% or more of our common stock, or a holder of
5% or more if such holder otherwise exercises a &#147;controlling influence&#148; over us,
is subject to regulation as a bank holding company under the Bank Holding
Company Act.</FONT></P>
<P align=center><FONT face=serif size=2>6</FONT></P>
<HR align=center width="100%" noShade SIZE=2>
<PAGE>
<P align=justify><B><FONT face=serif size=2>Description of Preferred Stock
</FONT></B></P>
<P align=justify><FONT face=serif size=2><FONT size=3>&nbsp;&nbsp;&nbsp;</FONT><STRONG><EM>General</EM></STRONG></FONT></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face=serif size=2>The
following summary contains a description of the general terms of the preferred
stock that we may issue. When we offer to sell a particular series of our
preferred stock, we will describe the specific terms of the series in a
supplement to this prospectus. The terms of any series of preferred stock may
differ from the terms described below. Certain provisions of the preferred stock
described below and in any prospectus supplement are not complete. You should
refer to the certificate of designations with respect to the establishment of a
series of preferred stock which will be filed with the SEC in connection with
the offering of such series of preferred stock. </FONT></P>
<P align=justify><FONT face=serif size=2><FONT size=3>&nbsp;&nbsp;&nbsp;</FONT><STRONG><EM>Terms of Each Series of Preferred
Stock </EM></STRONG></FONT></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face=serif size=2>EFSC&#146;s
Board of Directors is authorized, without further action by our stockholders but
subject to EFSC&#146;s certificate of incorporation (as amended and together with all
certificates of designations) and applicable law, to issue preferred stock in
one or more series. The Board of Directors may fix by resolution the terms of a
series of preferred stock, including without limitation: dividend rates and any
preference of dividends; any conversion rights; any terms of redemption; any
liquidation preferences; the number of shares constituting each such series; any
right to appoint directors to our Board of Directors under certain circumstances
and any voting rights. Any shares of preferred stock issued in accordance with
the terms of the applicable agreement, will upon full payment of the issuance
price be fully paid and non-assessable. Any preferred stock issued by the
Company will have a junior position to our preferred stock issued to the
Treasury in connection with our participation in the Capital Purchase Program.
</FONT></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face=serif size=2>Under the
terms of our Series A Preferred Stock, our ability to declare or pay dividends
or distributions on, or repurchase shares of any junior preferred stock will be
subject to restrictions in the event we fail to declare and pay full dividends
on our preferred stock (or set aside a sum sufficient for payment
thereof).</FONT></P>
<P align=justify><FONT face=serif size=2><FONT size=3>&nbsp;&nbsp;&nbsp;</FONT><STRONG><EM>Rank </EM></STRONG></FONT></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face=serif size=2>Upon our
dissolution, liquidation or winding up, holders of preferred stock are entitle
to receive our of our assets an amount per share equal to the respective
liquidation preference before any payment or distribution is made on our common
stock or any other class of capital stock that ranks junior to the particular
series of preferred stock. If our assets available for distribution upon our
dissolution, liquidation or winding up are insufficient to pay in full the
liquidation preference payable to holders of shares of all series of preferred
stock, such assets will be distributed to such holders on a pro rata basis in
proportion to the amounts payable on those shares. </FONT></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face=serif size=2>The terms
of the Series A Preferred Stock provide that we must obtain the approval of the
holders of at least 66 2/3% of the outstanding shares of the Series A Preferred
Stock in order to amend our certificate of incorporation or the certificate of
designation for the Series A Preferred Stock to authorize or create or increase
the authorized amount of, or issue, any shares of, or any securities convertible
into or exchangeable or exercisable for shares of, any class or series of stock
ranking senior to the Series A Preferred Stock with respect to the payment of
dividends and/or payments upon our liquidation, dissolution or winding up.
Dividends are payable quarterly on the Series A Preferred Stock at a rate of 5%
per annum from the date of issuance through but excluding February 15, 2014 and
at a rate of 9% per annum on and after February 15, 2014. The Series A Preferred
Stock has a liquidation preference of $1,000 per share, plus any accrued but
unpaid dividends on the Series A Preferred Stock. </FONT></P>
<P align=justify><FONT face=serif size=2><FONT size=3>&nbsp;&nbsp;&nbsp;</FONT><STRONG><EM>Voting Rights
</EM></STRONG></FONT></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face=serif size=2>Except as
indicated in the applicable prospectus supplement or except as otherwise from
time to time required by applicable law, the holders of our preferred stock will
have no voting rights. </FONT></P>
<P align=justify><B><FONT face=serif size=2>Certain Anti-takeover Effects
</FONT></B></P>
<P align=justify><FONT face=serif size=2><FONT size=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>EFSC&#146;s certificate of incorporation
(as amended and together with all certificates of designations) and bylaws
contain various protective provisions that would have the effect of impeding an
attempt to change or remove EFSC&#146;s Board of Directors or to gain control of its
outstanding capital stock, as well as provisions that limit liability or provide
indemnification for directors and executive officers. These provisions are
discussed in more detail below.</FONT></P>
<P align=center><FONT face=serif size=2>7</FONT></P>
<HR align=center width="100%" noShade SIZE=2>
<PAGE>
<UL style="TEXT-ALIGN: justify">
  <LI><I><FONT face=serif size=2>Authorized but Unissued Stock</FONT></I><FONT face=serif size=2>. Authorized but unissued shares of our common stock and our
  preferred stock are available for future issuance without stockholder
  approval. These additional shares may be utilized for a variety of corporate
  purposes, including future public offerings to raise additional capital,
  corporate acquisitions and employee benefit plans. The existence of authorized
  but unissued and unreserved common stock and/or preferred stock may enable
  EFSC&#146;s Board of Directors to issue shares to persons friendly to current
  management, which could render more difficult or discourage any attempt to
  obtain control of EFSC by means of a proxy contest, tender offer, merger or
  otherwise, and thereby protect the continuity of EFSC&#146;s
  management.<BR>&nbsp;</FONT>
  <LI><I><FONT face=serif size=2>Limitations on Liability</FONT></I><FONT face=serif size=2>. EFSC&#146;s certificate of incorporation (as amended and
  together with all certificates of designations) contains a provision which,
  subject to the exceptions described below, indemnifies EFSC&#146;s directors from
  individual liability to EFSC or its stockholders for monetary damages for any
  breach of such director's fiduciary duty as a director. This provision does
  not indemnify the director (i) for violating his duty of loyalty to EFSC or
  its stockholders, (ii) for acts or omissions not in good faith or involving
  intentional misconduct or a knowing violation of law, (iii) for liability
  under Section 174 of the Delaware General Corporation Law, or DGCL, relating
  to unlawful dividends and distributions, or (iv) for any transaction from
  which the director derived an improper personal benefit. In addition, the
  bylaws of EFSC require EFSC to indemnify any person who was, is, or is
  threatened to be made a party to any threatened, pending or completed action,
  suit or proceeding, whether civil, criminal, administrative or investigative,
  by reason of service by such person as a director or officer of EFSC. Such
  directors and officers are entitled to be indemnified against judgments,
  penalties, fines, settlements, and reasonable expenses (including attorneys'
  fees) actually incurred by the director or officer in connection with the
  proceeding, except that no payments may be made with respect to liability
  which is not eliminated pursuant to the provision of EFSC&#146;s certificate of
  incorporation described in the preceding paragraph. Finally, EFSC&#146;s Board of
  Directors has the authority to extend to its employees and agents the same
  indemnification rights held by officers and directors, subject to all the
  accompanying conditions and obligations.<BR>&nbsp;</FONT>
  <LI><I><FONT face=serif size=2>Directors</FONT></I><FONT face=serif size=2>.
  EFSC&#146;s bylaws provide that any or all of EFSC&#146;s directors may be removed from
  office with or without cause by the affirmative vote of the holders of a
  majority of the shares then entitled to vote at an election of directors,
  subject to applicable provisions of the DGCL.<BR>&nbsp;</FONT>
  <LI><I><FONT face=serif size=2>Special Meetings of
  Stockholders</FONT></I><FONT face=serif size=2>. EFSC&#146;s bylaws provide that
  special meetings of stockholders may be called at any time by the EFSC&#146;s
  Chairman of the Board, President or Board of Directors acting pursuant to a
  resolution adopted by a majority of the Board of Directors. Special meetings
  of stockholders may also be called upon the written request of holders of at
  least 50% of all of the issued and outstanding shares entitled to vote,
  provided that they shall make written application to EFSC&#146;s Secretary stating
  the time, place and purpose or purposes of the special meeting.</FONT></LI></UL>
<P align=center><B><FONT face=serif size=2>DESCRIPTION OF DEPOSITARY SHARES
</FONT></B></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face=serif size=2>The
following is a description of the material features, terms and provisions of
depositary shares that we may offer. This summary does not purport to be
exhaustive and may not contain all the information that is important to you.
Therefore, you should read the applicable prospectus supplement relating to
those depositary shares, which may contain a deposit agreement and depositary
receipts or other transaction documents related to an offering of depositary
shares, and any other offering materials that we may provide. The applicable
prospectus supplement will describe the specific terms of the depositary shares
offered through that prospectus and any general terms outlined in this section
of the prospectus that will not apply to those depositary shares. </FONT></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face=serif size=2>We may
offer fractional interests in our debt securities or fractional shares of our
preferred stock or our common stock. If we elect to do so, we will provide for
the issuance by a depositary to the public of receipts for depositary shares,
each of which will represent a fractional interests in debt securities or
fractional shares of our preferred stock or our common stock, as the case may
be, in the form of depositary shares.</FONT></P>
<P align=center><FONT face=serif size=2>8</FONT></P>
<HR align=center width="100%" noShade SIZE=2>
<PAGE>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face=serif size=2>The debt
securities, preferred stock or common stock underlying the depositary shares
will be deposited under a separate deposit agreement between us and a bank or
trust company having its principal office in the United States and having a
combined capital and surplus of such amount as may be set forth in the
applicable prospectus supplement, which we refer to in this prospectus as the
&#147;depositary.&#148; We will name the depositary in the applicable prospectus
supplement. Subject to the terms of the deposit agreement, each owner of a
depositary share will be entitled to the applicable fraction of debt securities,
our preferred stock or our common stock, as the case may be, represented by the
depositary share. Those rights include any dividend, voting, redemption,
conversion and liquidation rights related to such debt securities, preferred
stock and common stock. If necessary, the applicable prospectus supplement will
provide a description of any U.S. Federal income tax consequences relating to
the purchase and ownership of the series of depositary shares offered by that
prospectus supplement. </FONT><FONT face=serif></FONT></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face=serif size=2>The
depositary shares will be evidenced by depositary receipts issued under the
deposit agreement. If you purchase fractional interests in the debt securities
or fractional shares of our preferred stock or our common stock, you will
receive depositary receipts as described in the applicable prospectus
supplement. Unless we specify otherwise in the applicable prospectus supplement,
you will not be entitled to receive the whole shares of our preferred stock or
our common stock underlying the depositary shares. </FONT></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face=serif size=2>While the
final depositary receipts are being prepared, we may, at our option, order the
depositary to issue temporary depositary receipts substantially identical to the
final depositary receipts although not in final form. Holders of such temporary
depositary receipts will be entitled to the same rights as if they held the
depositary receipts in final form. In addition, holders of the temporary
depositary receipts would be able to exchange them for the final depositary
receipts at our expense. </FONT><FONT face=serif></FONT></P>
<P align=center><B><FONT face=serif size=2>DESCRIPTION OF DEBT SECURITIES
</FONT></B></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face=serif size=2>The
following is a description of the material features, terms and provisions of
debt securities that we may offer. This summary does not purport to be
exhaustive and may not contain all the information that is important to you.
Therefore, you should read the applicable prospectus supplement relating to
those debt securities and any other offering materials that we may
provide.</FONT></P>
<P align=justify><FONT face=serif size=2><FONT size=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>We may issue debt securities from
time to time in one or more series. Unless otherwise stated in the applicable
prospectus supplement, we will not be limited in the amount of debt securities
that we may issue, and neither the senior debt securities nor the subordinated
debt securities will be secured by any of our property or assets. Thus, by
owning debt securities, you are one of our unsecured creditors. </FONT></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face=serif size=2>We are a
holding company and conduct substantially all of our operations though
subsidiaries. As a result, claims of holders of debt securities will generally
have a junior position to claims of creditors of our subsidiaries (including,
without limitation, Enterprise Bank), except to the extent that we may be
recognized as a creditor of those subsidiaries. In addition, our right to
participate as a stockholder in any distribution of assets of any subsidiary
(and thus the ability of holders of debt securities to benefit as creditors of
EFSC from such distribution) is junior to creditors of that
subsidiary.</FONT></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face=serif size=2>We may
issue senior debt securities or subordinated debt securities under one or
separate indentures, which may be supplemented or amended from time to time.
Senior debt securities will be issued under one or more senior indentures and
subordinated debt securities will be issued under one or more subordinated
indentures. Any senior debt indentures and subordinated debt indentures are
referred to individually in this prospectus as the &#147;indenture&#148; and collectively
as the &#147;indentures.&#148; The particular terms of a series of debt securities will be
described in an prospectus supplement relating to such series of debt
securities. Any indentures will be subject to and governed by the Trust
Indenture Act of 1939, as amended, and may be supplemented or amended from time
to time following their execution. </FONT></P>
<P align=justify><FONT face=serif size=2><FONT size=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Any indentures will contain the full
legal text of the matters described in this section of the prospectus. Because
this section is a summary, it does not describe every aspect of the debt
securities or any applicable indentures. This summary is therefore subject to
and is qualified in its entirety by reference to all the provisions of any
applicable indenture, including any definitions of terms used in such indenture.
Your rights will be defined by the terms of any applicable indenture, not the
summary provided herein. This summary is also subject to and qualified by
reference to the description of the particular terms of a particular series of
debt securities described in the applicable prospectus supplement or
supplements.</FONT></P>
<P align=center><FONT face=serif size=2>9</FONT></P>
<HR align=center width="100%" noShade SIZE=2>
<PAGE>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face=serif size=2>The debt
securities may be denominated and payable in U.S. dollars. We may also issue
debt securities, from time to time, with the principal amount, interest or other
amounts payable on any relevant payment date to be determined by reference to
one or more currency exchange rates, securities or baskets of securities,
commodity prices, indices or any other financial, economic or other measure or
instrument, including the occurrence or non-occurrence of any event or
circumstance. In addition, we may issue debt securities as part of any units
issued by us. All references in this prospectus or any prospectus supplement to
other amounts will include premiums, if any, other cash amounts payable under
the applicable indenture, and the delivery of securities or baskets of
securities under the terms of the debt securities. Debt securities may bear
interest at a fixed rate, which may be zero, or a floating rate.</FONT></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face=serif size=2>Some of
the debt securities may be issued as original issue discount debt securities.
Such original issue discount securities bear no interest or bear interest at
below market rates and will be sold at a discount below their stated principal
amount. A prospectus supplement relating to an issue of original issue discount
securities will contain information relating to United States federal income
tax, accounting, and other special considerations applicable to original issue
discount securities.</FONT></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face=serif size=2>We will
set forth in the applicable prospectus supplement the terms, if any, on which a
series of debt securities may be convertible into or exchangeable for our
preferred stock, common stock or other securities. We will include provisions as
to whether conversion or exchange is mandatory, at the option of the holder or
at our option. We may include provisions pursuant to which the number of shares
of our preferred stock, common stock or other securities that holders of the
series of debt securities receive would be subject to adjustment. </FONT></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face=serif size=2>Holders
may present debt securities for exchange or transfer, in the manner, at the
places and subject to the restrictions stated in the debt securities and
described in the applicable prospectus supplement and other offering material
that we may provide. We will provide these services without charge except for
any tax or other governmental charge payable in connection with these services
and subject to any limitations provided in the applicable indenture pursuant to
which such debt securities are issued.</FONT></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face=serif size=2>Holders
may be able to transfer debt securities in definitive bearer form and the
related coupons, if any, by delivery to the transferee.</FONT><FONT face=serif>
</FONT></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face=serif size=2>We will
generally have no obligation to repurchase, redeem, or change the terms of debt
securities upon any event (including a merger, consolidation, change in control
or disposition of substantially all of our assets) that might have an adverse
effect on our credit quality. </FONT></P>
<P align=center><B><FONT face=serif size=2>DESCRIPTION OF RIGHTS</FONT></B></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face=serif size=2>The
following is a description of the material features, terms and provisions of the
rights to purchase shares of our preferred stock, our common stock or other
securities that we may offer to our stockholders. This summary does not purport
to be exhaustive and may not contain all the information that is important to
you. Therefore, you should read the applicable prospectus supplement, which may
contain a rights purchase agreement or other transaction documents related to an
offering of rights to purchase our common stock, and any other offering
materials that we may provide.</FONT></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face=serif size=2>Rights
may be issued independently or together with any other offered securities and
may or may not be transferred by the person purchasing or receiving the rights.
In connection with any rights offering to our stockholders, we may enter into a
standby underwriting agreement or other arrangement with one or more
underwriters or other persons pursuant to which such underwriters or other
person would purchase any offered securities remaining unsubscribed for after
such rights offering. Each series of rights will be used under a separate rights
agent agreement to be entered into between us and a bank or trust company, as
rights agent, that we will name in the applicable prospectus supplement. The
rights agent will act solely as our agent in connection with the certificates
relating to the rights of the series of certificates and will not assume any
obligation or relationship of agency or trust for or with any holders of rights
certificates or beneficial owners of rights.</FONT></P>
<P align=center><FONT face=serif size=2>10</FONT></P>
<HR align=center width="100%" noShade SIZE=2>
<PAGE>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face=serif size=2>The
prospectus supplement relating to any rights we offer will include specific
terms relating to the offering, including, among others: the date of determining
the stockholders entitled to the rights distribution, the aggregated number of
rights issued and the aggregate number of shares of our preferred stock, our
common stock or other securities purchasable upon exercise of the rights, the
exercise price, the conditions to completion of the offering, the date on which
the right to exercise the rights will commence, the date on which the right will
expire and any applicable United State Federal income tax considerations. To the
extent that any particular terms of the rights, rights agent agreements or
rights certificates described in a prospectus supplement differ from any of the
terms described in this prospectus, then the terms described in this prospectus
will be deemed to have been superseded by that prospectus supplement.
</FONT></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face=serif size=2>Each
right would entitle the holder of the rights to purchase for cash the principal
amount of shares of our preferred stock, our common stock or our other
securities at the exercise price set forth in the applicable prospectus
supplement. Rights may be exercised at any time up to the close of business on
the expiration date for the rights as provided in the applicable prospectus
supplement. After the close of business on the expiration date, all unexercised
rights would become void and of no further force or effect. </FONT></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face=serif size=2>Holders
may exercise rights as described in the applicable prospectus supplement. Upon
receipt of payment and the rights certificate properly completed and duly
executed at the corporate trust office of the rights agent or any other office
indicated in the prospectus supplement, we will, as soon as practicable, forward
the shares of our preferred stock, our common stock or other securities
purchasable upon exercise of the rights. If less than all of the rights issued
in any rights offering are exercised, we may offer any unsubscribed securities
directly to persons other than stockholders, to or through agents, underwriters
or dealers or through a combination of such methods, including pursuant to
standby arrangements, as described in the applicable prospectus supplement.
</FONT></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face=serif size=2>For
information about shares of our preferred stock, shares of our common stock, or
depositary shares, see &#147;Description of Preferred Stock,&#148; &#147;Description of Common
Stock,&#148; &#147;Description of Capital Stock,&#148; and &#147;Description of Depositary Shares,&#148;
respectively. </FONT></P>
<P align=center><B><FONT face=serif size=2>DESCRIPTION OF PURCHASE CONTRACTS
</FONT></B></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face=serif size=2>In this
section, we describe the general terms and provisions of the purchase contracts
that we may offer. This summary does not purport to be exhaustive and may not
contain all the information that is important to you. Therefore, you should read
the applicable prospectus supplement, which will describe the specific terms of
the applicable purchase contract, and any other offering materials that we may
provide.</FONT></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face=serif size=2>The
purchase contracts will represent contracts obligating holders to purchase from
or sell to the Company, and obligating the Company to purchase from or sell to
the holders, a specified or variable number of our debt securities, shares of
our preferred stock, shares of our common stock, depositary shares, warrants or
securities of an entity unaffiliated with us, or any combination of the above,
at a future date or dates. The price of the securities or other property subject
to the purchase contracts may be fixed at the time the purchase contracts are
entered into or may be determined by reference to a specific formula contained
in the purchase contracts. Any purchase contract may include anti-dilution
provisions to adjust the number of shares or other securities to be delivered
pursuant to such purchase contract upon the occurrence of certain events. We may
issue the purchase contracts in such amounts and in as many distinct series as
we wish.</FONT></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face=serif size=2>The
purchase contracts may be entered into separately or as a part of units
consisting of a purchase contract and one or more of our other securities
described in this prospectus or securities of third parties, including U.S.
Treasury securities, securing the holder&#146;s obligations under the purchase
contract. The purchase contracts may require us to make periodic payments to
holders of the purchase contracts, or vice versa, and such payments may be
unsecured or prefunded and may be paid on a current or on a deferred basis. The
purchase contracts may require holders to secure their obligations under those
contracts in a manner specified in the applicable prospectus supplement.
</FONT><FONT face=serif></FONT></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face=serif size=2>The
prospectus supplement relating to any purchase contracts we may offer will
include specific terms relating to the offering, including, among others,
whether the purchase contracts obligate the holder to purchase or sell, or both
purchase and sell, our securities and the nature and amount of each of those
securities, or the method of determining those amounts; whether the purchase
contracts are to be prepaid, settled by delivery or by reference or linkage to
the value, performance or level of our securities; and any acceleration,
cancellation, termination or other provisions relating to the settlement of the
purchase contracts.</FONT></P>
<P align=center><FONT face=serif size=2>11</FONT></P>
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<PAGE>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face=serif size=2>For
information about shares of our preferred stock, shares of our common stock, or
depositary shares, see &#147;Description of Preferred Stock,&#148; &#147;Description of Common
Stock,&#148; &#147;Description of Capital Stock,&#148; and &#147;Description of Depositary Shares,&#148;
respectively.</FONT></P>
<P align=center><B><FONT face=serif size=2>DESCRIPTION OF WARRANTS
</FONT></B></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face=serif size=2>In this
section, we describe the general terms and provisions of the warrants to
purchase our preferred stock, our common stock or other securities that we may
offer. This summary does not purport to be complete and may not contain all the
information that is important to you. Therefore, you should read the applicable
prospectus supplement, which will describe the specific terms of the applicable
warrant agreement, and any other offering materials that we may
provide.</FONT></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face=serif size=2>We may
issue warrants in such amounts or in as many distinct series as we wish. We may
issue warrants independently or together with other securities. Warrants sold
with other securities may be attached to or separate from the other securities.
We will issue warrants, if any, under one or more warrant agreements between us
and a warrant agent that we will name in the applicable prospectus supplement.
The warrant agent will act solely as our agent in connection with such warrants
and will not assume any obligation or relationship of agency or trust for or
with any holders or beneficial owners of warrants. The prospectus supplement
relating to any warrants we offer will include specific terms relating to the
offering, including, among others, the aggregate number of warrants offered, the
exercise price of the warrants, the dates or periods during which the warrants
are exercisable and any other specific terms of the warrants.</FONT></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face=serif size=2>For
information about shares of our preferred stock, shares of our common stock, or
depositary shares, see &#147;Description of Preferred Stock,&#148; &#147;Description of Common
Stock,&#148; &#147;Description of Capital Stock,&#148; and &#147;Description of Depositary Shares,&#148;
respectively.</FONT></P>
<P align=center><B><FONT face=serif size=2>DESCRIPTION OF UNITS </FONT></B></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face=serif size=2>The
following is a description of some of the material features, terms and
provisions of the units that we may offer. This summary does not purport to be
complete and may not contain all the information that is important to you.
Therefore, you should read the applicable prospectus supplement and any other
offering materials that we may provide. The applicable prospectus supplement and
other offering materials relating to the units we may offer will include
specific terms relating to the offering, including, among others, the
designation and terms of the units and of the combination of securities
comprising the units; whether and under what circumstances those securities may
be held or transferred separately; and any provision for the issuance, payment,
settlement, transfer or exchange of the units or of the securities comprising
those units.</FONT></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face=serif size=2>We may
issue units in such amounts and in as many distinct series as we wish, subject
to applicable law. We may issue units comprised of one or more of the securities
described in this prospectus, in any combination thereof. Each unit will be
issued so that the holder of the unit also is the holder of each security
included in the unit. Thus, the holder of a unit will have the rights and
obligations of a holder of each included security. We will issue the units under
one or more unit agreements to be entered into between us and a bank or other
financial institution, as unit agent. We may add, replace or terminate unit
agents from time to time. We will identify the unit agreement under which each
series of units will be issued and the unit agent under that agreement in the
applicable prospectus supplement. The unit agreement under which a unit is
issued may provide that the securities included in the unit may not be held or
transferred separately at any time or at any time before a specified
date.</FONT></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face=serif size=2>The
provisions described in this section, as well as those described under
&#147;Description of Preferred Stock,&#148; &#147;Description of Common Stock,&#148; &#147;Description of
Capital Stock,&#148; &#147;Description of Warrants,&#148; &#147;Description of Debt Securities&#148; and
&#147;Description of Purchase Contracts&#148;, will apply to the securities included in
each unit, to the extent relevant.</FONT></P>
<P align=center><FONT face=serif size=2>12</FONT></P>
<HR align=center width="100%" noShade SIZE=2>
<PAGE>
<P align=center><B><FONT face=serif size=2>PLAN OF DISTRIBUTION</FONT></B></P>
<P align=justify><FONT face=serif size=2><FONT size=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>The securities described in this
prospectus may be sold in any of the following ways (or in any combination): (1)
through underwriters or dealers, (2) through agents or (3) directly to one or
more purchasers (through a specific bidding or auction process or otherwise).
</FONT></P>
<P align=justify><FONT face=serif size=2><FONT size=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>At the time a particular offer of
securities is made, if required, we will also provide a prospectus supplement
that sets forth certain specific terms of the offering, including: (1) the name
or names of any underwriters, dealers or agents and the type and amount of
securities underwritten or purchased by each of them, (2) the initial public
offering price of the securities and the proceeds to us and any discounts,
commissions or concessions allowed or reallowed or paid to dealers, and (3) any
delayed delivery arrangements. Any public offering price and any discounts or
concessions allowed or reallowed or paid to dealers may be changed from time to
time. </FONT></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face=serif size=2>The offer
and sale of the securities described in this prospectus by us, the underwriters
or the third parties described above may be effected from time to time in one or
more transactions, including privately negotiated transactions: (1) either at a
fixed price or prices, which may be changed, (2) at market prices prevailing at
the time of sale, (3) at prices related to the prevailing market prices, or (4)
at negotiated prices.</FONT></P>
<P align=justify><FONT face=serif size=2><FONT size=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>In connection with the sale of
securities, underwriters or agents may receive compensation from us or from
purchasers of the securities for whom they may act as agents in the form of
discounts, concessions or commissions. Underwriters may sell the securities to
or through dealers, and such dealers may receive compensation in the form of
discounts, concessions or commissions from the underwriters or commissions from
the purchasers for whom they may act as agents. If a dealer is utilized to sell
the securities, we may sell such securities to the dealer as principal. The
dealer may then resell such securities to the public at varying prices to be
determined by such dealer at any time of resale. Any discounts, concessions or
commissions as to any particular underwriter, dealer or agent may be in excess
of those customary in the types of transactions involved.</FONT></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face=serif size=2>In
offering the securities covered by this prospectus, underwriters, dealers and
agents may be deemed to be &#147;underwriters&#148; within the meaning of Section 2(a)(11)
of the Securities Act of 1933, as amended, in connection with sales of the
securities, and any profits realized by them on the resale of the securities and
the compensation received by them from us may be deemed to be underwriting
discounts and commissions under the Securities Act of 1933, as amended. Any such
underwriter, dealer or agent will be subject to the prospectus delivery
requirements of the Securities Act of 1933, as amended, and may be subject to
certain statutory and regulatory liabilities, including liabilities imposed
pursuant to Sections 11, 12 and 17 of the Securities Act of 1933, as amended,
and Rule 10b-5 under the Exchange Act of 1934, as amended.</FONT></P>
<P align=justify><FONT face=serif size=2><FONT size=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>If so indicated in the applicable
prospectus supplement, we will authorize underwriters, dealers or agents to
solicit offers by certain purchasers to purchase our securities from us at the
public offering prices set forth in the applicable prospectus supplement
pursuant to delayed delivery contracts providing for payment and delivery on a
specified date in the future. Such contracts will be subject only to those
conditions set forth in the applicable prospectus supplement, and the applicable
prospectus supplement will set forth the commission payable for the solicitation
of such contracts. </FONT></P>
<P align=justify><FONT face=serif size=2><FONT size=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Under agreements which may be
entered into by us, underwriters, dealers and agents who participate in the
distribution of the securities may be entitled to indemnification by us against
certain liabilities, including liabilities under the Securities Act of 1933, as
amended, or to contribution with respect to payments which the underwriters,
dealers or agents may be required to make in respect thereof. Certain of the
underwriters, dealers or agents and their associates may be customers of, engage
in transactions with, and perform services for, us in the ordinary course of
business.</FONT></P>
<P align=center><FONT face=serif size=2>13</FONT></P>
<HR align=center width="100%" noShade SIZE=2>
<PAGE>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face=serif size=2>Unless
otherwise indicated in the applicable prospectus supplement, we do not intend to
apply for the listing of any series of warrants or rights. If warrants or rights
are sold to or through underwriters, the underwriters may make a market in such
securities, as permitted by applicable law and regulations. No underwriter would
be obligated, however, to make a market in such securities, and any such
market-making could be discontinued at any time at the sole discretion of the
underwriters. Accordingly, no assurance can be given as to the liquidity of, or
trading markets for, any warrants, rights or any series thereof. </FONT></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face=serif size=2>Underwriters or agents could make sales in privately negotiated
transactions and/or any other method permitted by law, including sales deemed to
be an at-the-market offering as defined in Rule 415 promulgated under the
Securities Act of 1933, as amended, which includes sales made directly on or
through NASDAQ Global Select Market, the existing trading market for our
ordinary shares, or sales made to or through a market maker other than on an
exchange. </FONT></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face=serif size=2>In
addition, any securities that qualify for sale pursuant to Rule 144 under the
Securities Act of 1933, as amended, may be sold under Rule 144 rather than
pursuant to this prospectus.</FONT></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face=serif size=2>In order
to comply with the securities laws of certain states, if applicable, the
securities must be sold in such jurisdictions only through registered or
licensed brokers or dealers. In addition, in certain states the securities may
not be sold unless they have been registered or qualified for sale in the
applicable state or an exemption from the registration or qualification
requirement is available and is complied with.</FONT></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face=serif size=2>The
anti-manipulation rules of Regulation M under the Exchange Act of 1934, as
amended, may apply to sales of securities pursuant to this prospectus and to the
activities of the selling underwriters, dealers or agents. In addition, we will
make copies of this prospectus available to the selling underwriters, dealers or
agents for the purpose of satisfying the prospectus delivery requirements of the
Securities Act of 1933, as amended, which may include delivery through the
facilities of the NASDAQ Global Select Market pursuant to Rule 153 under the
Securities Act of 1933, as amended.</FONT></P>
<P align=center><B><FONT face=serif size=2>LEGAL MATTERS</FONT></B><FONT face=serif size=2> </FONT></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face=serif size=2>In
connection with the particular offerings of the securities in the future, and if
stated in the applicable prospectus supplement, the validity of those securities
may be passed upon for us by Greensfelder, Hemker &amp; Gale, P.C., St. Louis,
Missouri. Certain legal matters in connection with an offering pursuant to this
prospectus will be passed upon for the underwriters and/or agents by a law firm
named in the applicable prospectus supplement.</FONT></P>
<P align=center><B><FONT face=serif size=2>EXPERTS</FONT></B></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face=serif size=2>Our
consolidated financial statements as of December 31, 2008 and 2007, and for each
of the years in the three-year period ended December 31, 2008, and management&#146;s
assessment of the effectiveness of internal control over financial reporting as
of December 31, 2008, have been incorporated by reference herein and in the
registration statement in reliance upon the reports of KPMG LLP, an independent
registered public accounting firm, as stated in their reports, which are
incorporated by reference herein, and upon the authority of said firm as experts
in accounting and auditing.</FONT></P>
<P align=center><FONT face=serif size=2>14</FONT></P>
<HR align=center width="100%" noShade SIZE=2>
<PAGE>
<P align=center><B><FONT face=serif size=2>PART II</FONT></B></P>
<P align=center><B><FONT face=serif size=2>INFORMATION NOT REQUIRED IN THE
PROSPECTUS</FONT></B></P>
<P align=justify><B><FONT face=serif size=2>Item 14. </FONT></B><B><I><FONT face=serif size=2>Other Expenses of Issuance and Distribution</FONT></I></B></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face=serif size=2>The
following table sets forth the various expenses to be incurred in connection
with the sale and distribution of the securities, for brokerage, accounting, tax
or legal services or any other expenses incurred by underwriters, dealers or
agents in disposing of the shares, all of which will be borne by the Company.
All amounts shown are estimates except the SEC registration fee.</FONT></P>
<TABLE style="LINE-HEIGHT: 14pt; BORDER-COLLAPSE: collapse" cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=bottom>
    <TD noWrap align=left width="95%" bgColor=#c0c0c0><FONT face=serif size=2>SEC Registration fee</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0><FONT face=serif size=2>$&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><B><FONT face=serif size=2>[1,953]</FONT></B></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="95%"><FONT face=serif size=2>NASDAQ
      Fees</FONT></TD>
    <TD noWrap align=left width="1%"><FONT face=serif size=2>$</FONT></TD>
    <TD noWrap align=right width="3%"><FONT face=serif size=2>*</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="95%" bgColor=#c0c0c0><FONT face=serif size=2>Federal and State Taxes</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0><FONT face=serif size=2>$</FONT></TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face=serif size=2>*</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="95%"><FONT face=serif size=2>Trustee Fees and
      Expenses</FONT></TD>
    <TD noWrap align=left width="1%"><FONT face=serif size=2>$</FONT></TD>
    <TD noWrap align=right width="3%"><FONT face=serif size=2>*</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="95%" bgColor=#c0c0c0><FONT face=serif size=2>Accounting Fees and Expenses</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0><FONT face=serif size=2>$</FONT></TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face=serif size=2>*</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="95%"><FONT face=serif size=2>Legal Fees and
      Expenses</FONT></TD>
    <TD noWrap align=left width="1%"><FONT face=serif size=2>$</FONT></TD>
    <TD noWrap align=right width="3%"><FONT face=serif size=2>*</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="95%" bgColor=#c0c0c0><FONT face=serif size=2>Printing Fees and Expenses</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0><FONT face=serif size=2>$</FONT></TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face=serif size=2>*</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="95%"><FONT face=serif size=2>Transfer Agent
      Fees</FONT></TD>
    <TD noWrap align=left width="1%"><FONT face=serif size=2>$</FONT></TD>
    <TD noWrap align=right width="3%"><FONT face=serif size=2>*</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="95%" bgColor=#c0c0c0><FONT face=serif size=2>Other</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0><FONT face=serif size=2>$</FONT></TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face=serif size=2>*</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="95%"><FONT face=serif size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <STRONG>Total
      Expenses</STRONG></FONT></TD>
    <TD noWrap align=left width="1%"><FONT face=serif size=2>$</FONT></TD>
    <TD noWrap align=right width="3%"><FONT face=serif size=2>*</FONT></TD></TR></TABLE><BR>
<TABLE cellSpacing=0 cellPadding=0 border=0>

  <TR>
    <TD vAlign=top>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD vAlign=top><FONT face=serif size=2>*</FONT></TD>
    <TD vAlign=top>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD vAlign=top align=left width="100%">
      <P align=justify><FONT face=serif size=2>These fees and expenses are
      calculated based on the securities offered and the number of issuances and
      accordingly, cannot be estimated at this time. An estimate of the
      aggregate amount of these expenses will be reflected in the applicable
      prospectus supplement.</FONT></P></TD></TR></TABLE>
<P align=justify><B><FONT face=serif size=2>Item 15. </FONT></B><B><I><FONT face=serif size=2>Indemnification of Directors and Officers.</FONT></I></B></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face=serif size=2>EFSC is a
Delaware corporation. Section 102 of the Delaware General Corporation Law, or
DGCL, as amended, allows a corporation to eliminate the personal liability of
directors of a corporation or its stockholders for monetary damages for breach
of fiduciary duty as a director, except where the director breached the duty of
loyalty, failed to act in good faith, engaged in intentional misconduct or
knowingly violated a law, authorized the payment of a dividend or approved a
stock repurchase in violation of the DGCL or obtained an improper personal
benefit.</FONT></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face=serif size=2>Section
145 of the DGCL provides, among other things, that EFSC may indemnify any person
who was or is a party or is threatened to be made a party to any threatened,
pending or completed action, suit or proceeding other than an action by or in
the right of EFSC, by reason of the fact that the person is or was a director,
officer, agent or employee of EFSC, or is or was serving at EFSC&#146;s request as a
director, officer, agent or employee of another corporation, partnership, joint
venture, trust or other enterprise, against expenses, including attorneys&#146; fees,
judgments, fines and amounts paid in settlement actually and reasonably incurred
by the person in connection with such action, suit or proceeding, if such person
acting in good faith and in a manner he or she reasonably believed to be in the
best interests, or not opposed to the best interests, of EFSC, and with respect
to any criminal action or proceeding had no reasonable cause to believe his or
her conduct was unlawful. The power to indemnify applies to actions brought by
or in the right of EFSC as well, but only to the extent of defense expenses,
reasonably incurred and not to any satisfaction of judgment or settlement of the
claim itself, and with the further limitation that in such actions no
indemnification shall be made in the event of any adjudication of liability to
EFSC, unless the court believes that in light of all the circumstances
indemnification should apply. Furthermore, under the DGCL, if such person is
successfully on the merits or otherwise in the defense of any action referred to
above, or in the defense of any claim, issue or matter therein, such person
shall be indemnified against expenses (including attorneys&#146; fees) actually and
reasonably incurred by such person in connection therewith.</FONT></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face=serif size=2>Section
174 of the DGCL provides, among other things, that a director, who willfully or
negligently approves an unlawful payment of dividends or an unlawful purchase or
redemption of stock, may be held liable for such actions. A director who was
either absent when the unlawful actions were approved or dissented at the time,
may avoid liability by causing his or her dissent to such actions to be entered
in the books containing minutes of the meetings of the board of directors at the
time such action occurred or immediately after such absent director receives
notice of the unlawful acts. </FONT></P>
<P align=center><FONT face=serif size=2>15</FONT></P>
<HR align=center width="100%" noShade SIZE=2>
<PAGE>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face=serif size=2>As
permitted by the DGCL, EFSC&#146;s certificate of incorporation (as amended and
together with all certificates of designations) includes a provision to
eliminate the personal liability of its directors for monetary damages for
breach of alleged breach of their fiduciary duties as directors, subject to
limited exceptions. The certificate of incorporation (as amended and together
with all certificates of designations) also provides that every person who is or
was our director, officer, employee or agent or is or was a director, officer,
trustee, employee or agent of any other enterprise, serving as such at EFSC&#146;s
request, shall be indemnified to the fullest extent permitted by law for all
expenses and liabilities in connection with any proceeding involving such person
in this capacity.</FONT></P>
<P align=justify><B><FONT face=serif size=2>Item 16. </FONT></B><B><I><FONT face=serif size=2>Exhibits</FONT></I></B></P>
<P align=justify><FONT face=serif size=2><FONT size=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>See the Exhibit Index immediately
following the signature page of this prospectus, which is hereby incorporated
herein by reference. </FONT></P>
<P align=justify><B><FONT face=serif size=2>Item 17. </FONT></B><B><I><FONT face=serif size=2>Undertakings</FONT></I></B></P>
<P align=justify><B><I><FONT face=serif size=2>A. Rule 415 Offering
</FONT></I></B></P>
<P align=justify><FONT face=serif size=2>The undersigned registrant hereby
undertakes:</FONT></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face=serif size=2>(1) To
file, during any period in which offers or sales are being made, a
post-effective amendment to this registration statement:</FONT></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face=serif size=2>(i) to include any prospectus required by Section 10(a)(3) of
the Securities Act of 1933, as amended;</FONT></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face=serif size=2>(ii) to reflect in the prospectus any facts or events arising
after the effective date of this registration statement (or the most recent
post-effective amendment thereof) which, individually or in the aggregate,
represent a fundamental change in the information set forth in this registration
statement. Notwithstanding the foregoing, any increase or decrease in the volume
of securities offered (if the total dollar value of securities offered would not
exceed that which was registered) and any deviation from the low or high end of
the estimated maximum offering range may be reflected in the form of prospectus
filed with the Commission pursuant to Rule 424(b) if, in the aggregate, the
changes in volume and price represent no more than 20 percent change in the
maximum aggregate offering price set forth in the &#147;Calculation of Registration
Fee&#148; table in the effective registration statement; and</FONT></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face=serif size=2>(iii) to include any material information with respect to the
plan of distribution not previously disclosed in this registration statement or
any material change to such information in this registration
statement;</FONT></P>
<P align=justify><I><FONT face=serif size=2>provided, however</FONT></I><FONT face=serif size=2>, that paragraphs (1)(i), (1)(ii) and (1)(iii) do not apply if
the information required to be included in a post-effective amendment by those
paragraphs is contained in periodic reports filed with or furnished to the SEC
by the registrant pursuant to Section 13 or Section 15(d) of the Exchange Act of
1934, as amended, that are incorporated by reference in this registration
statement, or is contained in a form of prospectus filed pursuant to Rule 424(b)
that is part of this registration statement.</FONT></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face=serif size=2>(2) That,
for the purposes of determining any liability under the Securities Act of 1933,
as amended, each post-effective amendment shall be deemed to be a new
registration statement relating to the securities offered therein, and the
offering of such securities at the time shall be deemed to be the initial
</FONT><I><FONT face=serif size=2>bona fide </FONT></I><FONT face=serif size=2>offering thereof.</FONT></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face=serif size=2>(3) To
remove from registration by means of a post-effective amendment any of the
securities being registered which remain unsold at the termination of the
offering.</FONT></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face=serif size=2>(4) That,
for the purpose of determining liability under the Securities Act of 1933, as
amended, to any purchaser:</FONT></P>
<P align=center><FONT face=serif size=2>16</FONT></P>
<HR align=center width="100%" noShade SIZE=2>
<PAGE>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face=serif size=2>(i) each prospectus filed by a registrant pursuant to Rule
424(b)(3) shall be deemed to be part of the registration statement as of the
date the filed prospectus was deemed part of and included in the registration
statement; and</FONT></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face=serif size=2>(ii) each prospectus required to be filed pursuant to Rule
424(b)(2), (b)(5), or (b)(7) as part of a registration statement in reliance on
Rule 430B relating to an offering made pursuant to Rule 415(a)(1)(i), (vii) or
(x) for the purpose of providing the information required by Section 10(a) of
the Securities Act of 1933, as amended, shall be deemed to be part of and
included in the registration statement as of the earlier of the date such form
of prospectus is first used after effectiveness or the date of the first
contract of sale of securities in the offering described in the prospectus. As
provided in Rule 430B, for liability purposes of the issuer and any person that
is at that date an underwriter, such date shall be deemed to be a new effective
date of the registration statement relating to the securities in the
registration statement to which that prospectus relates, and the offering of
such securities at that time shall be deemed to be the initial </FONT><I><FONT face=serif size=2>bona fide </FONT></I><FONT face=serif size=2>offering thereof.
</FONT><I><FONT face=serif size=2>Provided, however</FONT></I><FONT face=serif size=2>, that no statement made in a registration statement or prospectus that
is part of the registration statement or made in a document incorporated or
deemed incorporated by reference into the registration statement or prospectus
that is part of the registration statement will, as to a purchaser with a time
of contract of sale prior to such effective date, supersede or modify any
statement that was made in the registration statement or prospectus that was
part of the registration statement or made in any such document immediately
prior to such effective date.</FONT></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face=serif size=2>(5) That,
for the purpose of determining liability of a registrant under the Securities
Act of 1933, as amended, to any purchaser in the initial distribution of the
securities:</FONT></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face=serif size=2>The
undersigned registrant undertakes that in a primary offering of securities of
the undersigned registrant pursuant to this registration statement, regardless
of the underwriting method used to sell the securities to the purchaser, if the
securities are offered or sold to such purchaser by means of any of the
following communications the undersigned registrant will be a seller to the
purchaser and will be considered to offer or sell such securities to such
purchaser:</FONT></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face=serif size=2>(i) any preliminary prospectus or prospectus of the
undersigned registrant relating to the offering required to be filed pursuant to
Rule 424;</FONT></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face=serif size=2>(ii) any free writing prospectus relating to the offering
prepared by or on behalf of the undersigned registrant or used or referred to by
the undersigned registrant;</FONT></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face=serif size=2>(iii) the portion of any other free writing prospectus
relating to the offering containing material information about the undersigned
registrant or its securities provided by or on behalf of the undersigned
Registrant; and</FONT></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face=serif size=2>(iv) any other communication that is an offer in the offering
made by the undersigned registrant to the purchaser.</FONT></P>
<P align=justify><B><I><FONT face=serif size=2>B. Filings Incorporating
Subsequent Exchange Act Documents By Reference</FONT></I></B></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face=serif size=2>The
undersigned registrant undertakes that, for purposes of determining any
liability under the Securities Act of 1933, as amended, each filing of the
registrant&#146;s annual report pursuant to Section 13(a) or 15(d) of the Exchange
Act of 1934, as amended (and, where applicable, each filing of any employee
benefit plan&#146;s annual report pursuant to Section 15(d) of the Exchange Act),
that is incorporated by reference in this registration statements shall be
deemed to be a new registration statement relating to the securities offered
therein, and the offering of such securities at that time shall be deemed to be
the initial </FONT><I><FONT face=serif size=2>bona fid</FONT></I><FONT face=serif size=2>e offering thereof. </FONT></P>
<P align=justify><B><I><FONT face=serif size=2>C. Warrants and Rights Offering
</FONT></I></B></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face=serif size=2>The
undersigned registrant hereby undertakes to supplement the prospectus, after the
expiration of the subscription period, to set forth the results of the
subscription offer, the transactions by the underwriters during the subscription
period, the amount of unsubscribed securities to be purchased by the
underwriters, and the terms of any subsequent reoffering thereof. If any public
offering by the underwriters is to be made on terms differing from </FONT><FONT face=serif size=2>those set forth on the cover page of the prospectus, a
post-effective amendment will be filed to set forth the terms of such offering.
</FONT></P>
<P align=center><FONT face=serif size=2>17</FONT></P>
<HR align=center width="100%" noShade SIZE=2>
<PAGE>
<P align=justify><B><I><FONT face=serif size=2>D. Request for Acceleration of
Effective Date of Filing of Registration Statement on Form S-8
</FONT></I></B></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face=serif size=2>Insofar
as indemnification for liabilities arising under the Securities Act of 1933, as
amended, may be permitted to directors, officers and controlling persons of the
registrant pursuant to the indemnification provisions described herein, or
otherwise, the registrant has been advised that in the opinion of the SEC such
indemnification is against public policy as expressed in the Securities Act of
1933, as amended, and is, therefore, unenforceable. In the event that a claim
for indemnification against such liabilities (other than the payment by the
registrant of expenses incurred or paid by a director, officer or controlling
person of the registrant in the successful defense of any action, suit or
proceeding) is asserted by such director, officer or controlling person in
connection with the securities being registered, the registrant will, unless in
the opinion of its counsel the matter has been settled by controlling precedent,
submit to a court of appropriate jurisdiction the question whether such
indemnification by it is against public policy as expressed in the Securities
Act of 1933, as amended, and will be governed by the final adjudication of such
issue.</FONT></P>
<P align=justify><B><I><FONT face=serif size=2>E. Registration Statement
Permitted by Rule 430A under the Securities Act of 1933 </FONT></I></B></P>
<P align=justify><FONT face=serif size=2><FONT size=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>The undersigned registrant hereby
undertakes that: </FONT></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face=serif size=2>(1) For
purposes of determining any liability under the Securities Act of 1933, as
amended, the information omitted from the form of prospectus filed as part of
this registration statement in reliance upon Rule 430A and contained in a form
of prospectus filed by the registrant pursuant to Rule 424(b) (1) or (4) or
497(h) under the Securities Act of 1933, as amended, shall be deemed to be part
of this registration statement as of the time it was declared effective.
</FONT></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face=serif size=2>(2) For
the purpose of determining any liability under the Securities Act of 1933, as
amended, each post-effective amendment that contains a form of prospectus shall
be deemed to be a new registration statement relating to the securities offered
therein, and the offering of such securities at that time shall be deemed to be
the initial bona fide offering thereof. </FONT></P>
<P align=justify><B><I><FONT face=serif size=2>F. Qualification of Trust
Indentures under the Trust Indenture Act of 1939 for Delayed Offerings.
</FONT></I></B></P>
<P align=justify><FONT face=serif size=2><FONT size=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>The undersigned registrant hereby
undertakes to file an application for the purpose of determining the eligibility
of the trustee to act under subsection (a) of section 310 of the Trust Indenture
Act (&#147;Act&#148;) in accordance with the rules and regulations prescribed by the
Commission under Section 305(b)2 of the Act. </FONT></P>
<P align=center><FONT face=serif size=2>18</FONT></P>
<HR align=center width="100%" noShade SIZE=2>
<PAGE>
<P align=center><FONT face=serif></FONT><B><FONT face=serif size=2>SIGNATURES
</FONT></B></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face=serif size=2>Pursuant
to the requirements of the Securities Act of 1933, the Registrant certifies that
it has reasonable grounds to believe that it meets all of the requirements for
filing on Form S-3 and has duly caused this registration statement to be signed
on its behalf by the undersigned, thereunto duly authorized, in the State of
Missouri, on June 16, 2009.</FONT></P>
<TABLE cellSpacing=0 cellPadding=0 width="100%" border=0>

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    <TD noWrap align=left width="50%" colSpan=3>
      <P align=justify><FONT face=serif size=2><STRONG>ENTERPRISE FINANCIAL
      SERVICES CORP</STRONG><FONT size=3> </FONT></FONT></P></TD></TR>
  <TR>
    <TD noWrap align=left width="50%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="48%">&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="50%">&nbsp;</TD>
    <TD noWrap align=left width="1%"><FONT face=serif size=2>By:</FONT> </TD>
    <TD noWrap align=left width="1%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="48%"><FONT face=serif size=2>/s/ Frank H. Sanfilippo</FONT> </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="50%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="48%"><FONT face=serif size=2>Frank H.
      Sanfilippo</FONT> </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="50%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="48%"><FONT face=serif size=2>Chief Financial
      Officer</FONT>&nbsp; </TD></TR></TABLE><BR>
<P align=center><B><FONT face=serif size=2>POWER OF ATTORNEY</FONT></B></P>
<P align=justify><FONT face=serif size=2>We, the undersigned directors and
officers of Enterprise Financial Services Corp (the &#147;Corporation&#148;) and each of
us, do hereby constitute and appoint Peter F. Benoist and Frank H. Sanfilippo,
or either of them, our true and lawful attorneys-in-fact and agents, each with
full power of substitution and resubstitution, to do any and all acts and things
in our names and on our behalf in our capacities as directors and officers and
to execute any and all instruments for us and in our names in the capacities
indicated above, which said attorneys or agents, or either of them, may deem
necessary or advisable to enable the Corporation to comply with the Securities
Act of 1933, as amended, and any rules, regulations and amendments (including
pre-effective and post-effective amendments) to the Registration Statement,
including specifically but without limitation, power and authority to sign for
us or any of us in our names in the capacities indicated below, any and all
amendments (including pre-effective and post-effective amendments) to such
Registration Statement; and we do hereby ratify and conform all that the said
attorneys and agents, or their substitute or substitutes, or either of them,
shall do or cause to be done by virtue hereof.</FONT></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face=serif size=2>Pursuant
to the requirements of the Securities Act of 1933, this registration statement
has been signed by the following persons in the capacities and on the dates
indicated: </FONT></P>
<TABLE cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=bottom>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="28%"><B><FONT face=serif size=2>Signature</FONT></B> </TD>
    <TD noWrap align=center width="1%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="43%"><B><FONT face=serif size=2>Title</FONT></B> </TD>
    <TD noWrap align=center width="1%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="27%"><B><FONT face=serif size=2>Date</FONT></B> </TD></TR>
  <TR>
    <TD width="100%" colSpan=5>&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="28%"><FONT face=serif size=2>/s/ Peter F. Benoist</FONT> </TD>
    <TD noWrap align=center width="1%">&nbsp;</TD>
    <TD noWrap align=center width="43%"><FONT face=serif size=2>Chief
      Executive Officer and Director</FONT> </TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="27%"><FONT face=serif size=2>April 30,
      2009</FONT> </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="28%"><FONT face=serif size=2>Peter F.
      Benoist</FONT> </TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="43%"></TD>
    <TD noWrap align=left width="1%">&nbsp;</TD>
    <TD noWrap align=left width="27%"></TD></TR>
  <TR>
    <TD width="100%" colSpan=5>&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="28%"><FONT face=serif size=2>/s/ James J. Murphy</FONT> </TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="43%"><FONT face=serif size=2>Chairman of
      the Board and Director</FONT> </TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="27%"><FONT face=serif size=2>April 30,
      2009</FONT> </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="28%"><FONT face=serif size=2>James J.
      Murphy</FONT> </TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="43%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="27%"></TD></TR>
  <TR>
    <TD width="100%" colSpan=5>&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="28%"><FONT face=serif size=2>/s/ Michael A. DeCola</FONT> </TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="43%"><FONT face=serif size=2>Director</FONT> </TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="27%"><FONT face=serif size=2>April 30,
      2009</FONT> </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="28%"><FONT face=serif size=2>Michael A.
      DeCola</FONT> </TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="43%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="27%"></TD></TR>
  <TR>
    <TD width="100%" colSpan=5>&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="28%"><FONT face=serif size=2>/s/ William H. Downey</FONT> </TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="43%"><FONT face=serif size=2>Director</FONT> </TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="27%"><FONT face=serif size=2>April 30,
      2009</FONT> </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="28%"><FONT face=serif size=2>William H.
      Downey</FONT> </TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="43%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="27%"></TD></TR>
  <TR>
    <TD width="100%" colSpan=5>&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="28%"><FONT face=serif size=2>/s/ Robert E. Guest, Jr.</FONT> </TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="43%"><FONT face=serif size=2>Director</FONT> </TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="27%"><FONT face=serif size=2>April 30,
      2009</FONT> </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="28%"><FONT face=serif size=2>Robert E. Guest,
      Jr.</FONT> </TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="43%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="27%"></TD></TR>
  <TR>
    <TD width="100%" colSpan=5>&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="28%"><FONT face=serif size=2>/s/ Lewis A. Levey</FONT> </TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="43%"><FONT face=serif size=2>Director</FONT> </TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="27%"><FONT face=serif size=2>April 30,
      2009</FONT> </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="28%"><FONT face=serif size=2>Lewis A.
      Levey</FONT> </TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="43%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="27%"></TD></TR>
  <TR>
    <TD width="100%" colSpan=5>&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="28%"><FONT face=serif size=2>/s/ Birch M. Mullins</FONT> </TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="43%"><FONT face=serif size=2>Director</FONT> </TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="27%"><FONT face=serif size=2>April 30,
      2009</FONT> </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="28%"><FONT face=serif size=2>Birch M.
      Mullins</FONT> </TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="43%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="27%">&nbsp; </TD></TR>
  <TR>
    <TD noWrap align=left width="28%">&nbsp;</TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="43%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="27%"></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="28%"><FONT face=serif size=2>/s/ Brenda D. Newberry</FONT>&nbsp;
</TD>
    <TD noWrap align=right width="1%"></TD>
    <TD noWrap align=center width="43%"><FONT face=serif size=2>Director</FONT> </TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="27%"><FONT face=serif size=2>April 30,
      2009</FONT> </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="28%"><FONT face=serif size=2>Brenda D.
      Newberry</FONT>&nbsp; </TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=center width="43%">&nbsp; </TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="27%">&nbsp; </TD></TR>
  <TR>
    <TD width="100%" colSpan=5>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="28%"><FONT face=serif size=2>/s/ Sandra Van Trease</FONT>&nbsp; </TD>
    <TD noWrap align=right width="1%"></TD>
    <TD noWrap align=center width="43%"><FONT face=serif size=2>Director</FONT> </TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="27%"><FONT face=serif size=2>April 30,
      2009</FONT> </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="28%"><FONT face=serif size=2>Sandra Van
      Trease</FONT>&nbsp; </TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=center width="43%">&nbsp; </TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="27%">&nbsp; </TD></TR>
  <TR>
    <TD width="100%" colSpan=5>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="28%"><FONT face=serif size=2>/s/ Henry D. Warshaw</FONT>&nbsp; </TD>
    <TD noWrap align=right width="1%"></TD>
    <TD noWrap align=center width="43%"><FONT face=serif size=2>Director</FONT> </TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="27%"><FONT face=serif size=2>April 30,
      2009</FONT> </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="28%"><FONT face=serif size=2>Henry D.
      Warshaw</FONT>&nbsp; </TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="43%">&nbsp; </TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="27%">&nbsp; </TD></TR></TABLE>
<P align=center><FONT face=serif size=2></FONT>&nbsp;</P>
<P align=center><FONT face=serif size=2>19</FONT></P>
<HR align=center width="100%" noShade SIZE=2>
<PAGE>
<P align=center><FONT face=serif size=2><B>EXHIBIT INDEX</B> </FONT></P>
<TABLE style="LINE-HEIGHT: 14pt; BORDER-COLLAPSE: collapse; TEXT-ALIGN: justify" cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=bottom>
    <TD noWrap align=center width="2%"><FONT face=serif size=1>Exhibit</FONT></TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="96%"></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="2%"><FONT face=serif size=1>No.</FONT></TD>
    <TD noWrap align=center width="1%">&nbsp;&nbsp;&nbsp;&nbsp; </TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="96%"><FONT face=serif size=1>Description</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD vAlign=top align=left width="2%" bgColor=#c0c0c0><FONT face=serif size=2>1.1*</FONT></TD>
    <TD vAlign=top align=left width="1%" bgColor=#c0c0c0><FONT face=serif size=2></FONT></TD>
    <TD vAlign=top align=left width="96%" bgColor=#c0c0c0>
      <P align=justify><FONT face=serif size=2>Form of underwriting or purchase
      agreement.</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top align=left width="2%"></TD>
    <TD vAlign=top align=left width="1%"></TD>
    <TD vAlign=top align=left width="96%">&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD vAlign=top align=left width="2%" bgColor=#c0c0c0><FONT face=serif size=2>3.1</FONT></TD>
    <TD vAlign=top align=left width="1%" bgColor=#c0c0c0></TD>
    <TD vAlign=top align=left width="96%" bgColor=#c0c0c0>
      <P align=justify><FONT face=serif size=2>Certificate of Incorporation of
      EFSC (incorporated herein by reference to Exhibit 3.1 to EFSC&#146;s
      Registration Statement on Form S-1 filed on December 19, 1996 (File No.
      333-14737)).</FONT></P></TD></TR>
  <TR vAlign=bottom>
    <TD vAlign=top align=left width="2%"></TD>
    <TD vAlign=top align=left width="1%"></TD>
    <TD vAlign=top align=left width="96%"><FONT face=serif size=2>&nbsp;</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD vAlign=top align=left width="2%" bgColor=#c0c0c0><FONT face=serif size=2>3.2</FONT></TD>
    <TD vAlign=top align=left width="1%" bgColor=#c0c0c0></TD>
    <TD vAlign=top align=left width="96%" bgColor=#c0c0c0>
      <P align=justify><FONT face=serif size=2>Amendment to the Certificates of
      Incorporation of Registrant (incorporated herein by reference to Exhibit
      4.2 to Registrant&#146;s Registration Statement on Form S-8 filed on July 1,
      1999 (File No. 333-82087)).</FONT></P></TD></TR>
  <TR vAlign=bottom>
    <TD vAlign=top align=left width="2%"></TD>
    <TD vAlign=top align=left width="1%"></TD>
    <TD vAlign=top align=left width="96%"><FONT face=serif size=2>&nbsp;</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD vAlign=top align=left width="2%" bgColor=#c0c0c0><FONT face=serif size=2>3.3</FONT></TD>
    <TD vAlign=top align=left width="1%" bgColor=#c0c0c0></TD>
    <TD vAlign=top align=left width="96%" bgColor=#c0c0c0>
      <P align=justify><FONT face=serif size=2>Amendment to the Certificate of
      Incorporation of Registrant (incorporated herein by reference to Exhibit
      3.1 to Registrant&#146;s Quarterly Report on Form 10-Q for the period ending
      September 30, 1999).</FONT></P></TD></TR>
  <TR vAlign=bottom>
    <TD vAlign=top align=left width="2%"></TD>
    <TD vAlign=top align=left width="1%"></TD>
    <TD vAlign=top align=left width="96%"><FONT face=serif size=2>&nbsp;</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD vAlign=top align=left width="2%" bgColor=#c0c0c0><FONT face=serif size=2>3.4</FONT></TD>
    <TD vAlign=top align=left width="1%" bgColor=#c0c0c0></TD>
    <TD vAlign=top align=left width="96%" bgColor=#c0c0c0>
      <P align=justify><FONT face=serif size=2>Amendment to the Certificate of
      Incorporation of Registrant (incorporated herein by reference to Exhibit
      99.2 to Registrant&#146;s Current Report on Form 8-K filed on April 30,
      2002).</FONT></P></TD></TR>
  <TR vAlign=bottom>
    <TD vAlign=top align=left width="2%"></TD>
    <TD vAlign=top align=left width="1%"></TD>
    <TD vAlign=top align=left width="96%"><FONT face=serif size=2>&nbsp;</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD vAlign=top align=left width="2%" bgColor=#c0c0c0><FONT face=serif size=2>3.5</FONT></TD>
    <TD vAlign=top align=left width="1%" bgColor=#c0c0c0>&nbsp;</TD>
    <TD vAlign=top align=left width="96%" bgColor=#c0c0c0>
      <P align=justify><FONT face=serif size=2>Amendment to Certificate of
      Incorporation (incorporated herein by reference to Appendix A to
      Registrant&#146;s Proxy Statement on Schedule 14A, effective November 20,
      2008).</FONT></P></TD></TR>
  <TR vAlign=bottom>
    <TD vAlign=top align=left width="2%"></TD>
    <TD vAlign=top align=left width="1%"></TD>
    <TD vAlign=top align=left width="96%"><FONT face=serif size=2>&nbsp;</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD vAlign=top align=left width="2%" bgColor=#c0c0c0><FONT face=serif size=2>3.6</FONT></TD>
    <TD vAlign=top align=left width="1%" bgColor=#c0c0c0></TD>
    <TD vAlign=top align=left width="96%" bgColor=#c0c0c0>
      <P align=justify><FONT face=serif size=2>Certificate of Designations
      (incorporated herein by reference to Exhibit 3.1 to the Registrant&#146;s
      Current Report on Form 8-K filed on December 23, 2008).</FONT></P></TD></TR>
  <TR vAlign=bottom>
    <TD vAlign=top align=left width="2%"></TD>
    <TD vAlign=top align=left width="1%"></TD>
    <TD vAlign=top align=left width="96%"><FONT face=serif size=2>&nbsp;</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD vAlign=top align=left width="2%" bgColor=#c0c0c0><FONT face=serif size=2>3.7</FONT></TD>
    <TD vAlign=top align=left width="1%" bgColor=#c0c0c0></TD>
    <TD vAlign=top align=left width="96%" bgColor=#c0c0c0>
      <P align=justify><FONT face=serif size=2>Bylaws of Registrant, as amended,
      (incorporated herein by reference to Exhibit 3.1 to Registrant&#146;s Current
      Report on Form 8-K filed on October 2, 2007).</FONT></P></TD></TR>
  <TR vAlign=bottom>
    <TD vAlign=top align=left width="2%"></TD>
    <TD vAlign=top align=left width="1%"></TD>
    <TD vAlign=top align=left width="96%"><FONT face=serif size=2>&nbsp;</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD vAlign=top align=left width="2%" bgColor=#c0c0c0><FONT face=serif size=2>4.1*</FONT></TD>
    <TD vAlign=top align=left width="1%" bgColor=#c0c0c0><FONT face=serif size=2></FONT></TD>
    <TD vAlign=top align=left width="96%" bgColor=#c0c0c0>
      <P align=justify><FONT face=serif size=2>Form of senior debt
      security.</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top align=left width="2%"></TD>
    <TD vAlign=top align=left width="1%"></TD>
    <TD vAlign=top align=left width="96%">&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD vAlign=top align=left width="2%" bgColor=#c0c0c0><FONT face=serif size=2>4.2*</FONT></TD>
    <TD vAlign=top align=left width="1%" bgColor=#c0c0c0><FONT face=serif size=2></FONT></TD>
    <TD vAlign=top align=left width="96%" bgColor=#c0c0c0>
      <P align=justify><FONT face=serif size=2>Form of subordinated debt
      security.</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top align=left width="2%"></TD>
    <TD vAlign=top align=left width="1%"></TD>
    <TD vAlign=top align=left width="96%">&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD vAlign=top align=left width="2%" bgColor=#c0c0c0><FONT face=serif size=2>4.3*</FONT></TD>
    <TD vAlign=top align=left width="1%" bgColor=#c0c0c0><FONT face=serif size=2></FONT></TD>
    <TD vAlign=top align=left width="96%" bgColor=#c0c0c0>
      <P align=justify><FONT face=serif size=2>Form of warrant
      agreement.</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top align=left width="2%"></TD>
    <TD vAlign=top align=left width="1%"></TD>
    <TD vAlign=top align=left width="96%">&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD vAlign=top align=left width="2%" bgColor=#c0c0c0><FONT face=serif size=2>4.4*</FONT></TD>
    <TD vAlign=top align=left width="1%" bgColor=#c0c0c0><FONT face=serif size=2></FONT></TD>
    <TD vAlign=top align=left width="96%" bgColor=#c0c0c0>
      <P align=justify><FONT face=serif size=2>Form of warrant.</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top align=left width="2%"></TD>
    <TD vAlign=top align=left width="1%"></TD>
    <TD vAlign=top align=left width="96%">&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD vAlign=top align=left width="2%" bgColor=#c0c0c0><FONT face=serif size=2>4.5*</FONT></TD>
    <TD vAlign=top align=left width="1%" bgColor=#c0c0c0><FONT face=serif size=2></FONT></TD>
    <TD vAlign=top align=left width="96%" bgColor=#c0c0c0>
      <P align=justify><FONT face=serif size=2>Form of unit
    agreement.</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top align=left width="2%"></TD>
    <TD vAlign=top align=left width="1%"></TD>
    <TD vAlign=top align=left width="96%">&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD vAlign=top align=left width="2%" bgColor=#c0c0c0><FONT face=serif size=2>4.6*</FONT></TD>
    <TD vAlign=top align=left width="1%" bgColor=#c0c0c0><FONT face=serif size=2></FONT></TD>
    <TD vAlign=top align=left width="96%" bgColor=#c0c0c0>
      <P align=justify><FONT face=serif size=2>Form of unit
      certificate.</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top align=left width="2%"></TD>
    <TD vAlign=top align=left width="1%"></TD>
    <TD vAlign=top align=left width="96%">&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD vAlign=top align=left width="2%" bgColor=#c0c0c0><FONT face=serif size=2>4.7*</FONT></TD>
    <TD vAlign=top align=left width="1%" bgColor=#c0c0c0><FONT face=serif size=2></FONT></TD>
    <TD vAlign=top align=left width="96%" bgColor=#c0c0c0>
      <P align=justify><FONT face=serif size=2>Form of purchase
      contract.</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top align=left width="2%"></TD>
    <TD vAlign=top align=left width="1%"></TD>
    <TD vAlign=top align=left width="96%">&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD vAlign=top align=left width="2%" bgColor=#c0c0c0><FONT face=serif size=2>4.8*</FONT></TD>
    <TD vAlign=top align=left width="1%" bgColor=#c0c0c0><FONT face=serif size=2></FONT></TD>
    <TD vAlign=top align=left width="96%" bgColor=#c0c0c0>
      <P align=justify><FONT face=serif size=2>Form of depositary
      agreement.</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top align=left width="2%"></TD>
    <TD vAlign=top align=left width="1%"></TD>
    <TD vAlign=top align=left width="96%">&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD vAlign=top align=left width="2%" bgColor=#c0c0c0><FONT face=serif size=2>4.9*</FONT></TD>
    <TD vAlign=top align=left width="1%" bgColor=#c0c0c0><FONT face=serif size=2></FONT></TD>
    <TD vAlign=top align=left width="96%" bgColor=#c0c0c0>
      <P align=justify><FONT face=serif size=2>Form of depositary
      receipt.</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top align=left width="2%"></TD>
    <TD vAlign=top align=left width="1%"></TD>
    <TD vAlign=top align=left width="96%">&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD vAlign=top align=left width="2%" bgColor=#c0c0c0><FONT face=serif size=2>4.10*</FONT></TD>
    <TD vAlign=top align=left width="1%" bgColor=#c0c0c0><FONT face=serif size=2></FONT></TD>
    <TD vAlign=top align=left width="96%" bgColor=#c0c0c0>
      <P align=justify><FONT face=serif size=2>Form of subscription rights
      agreement.</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top align=left width="2%"></TD>
    <TD vAlign=top align=left width="1%"></TD>
    <TD vAlign=top align=left width="96%">&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD vAlign=top align=left width="2%" bgColor=#c0c0c0><FONT face=serif size=2>4.11*</FONT></TD>
    <TD vAlign=top align=left width="1%" bgColor=#c0c0c0><FONT face=serif size=2></FONT></TD>
    <TD vAlign=top align=left width="96%" bgColor=#c0c0c0>
      <P align=justify><FONT face=serif size=2>Form of subscription agent
      agreement.</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top align=left width="2%"></TD>
    <TD vAlign=top align=left width="1%"></TD>
    <TD vAlign=top align=left width="96%">&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD vAlign=top align=left width="2%" bgColor=#c0c0c0><FONT face=serif size=2>5.1*</FONT></TD>
    <TD vAlign=top align=left width="1%" bgColor=#c0c0c0><FONT face=serif size=2></FONT></TD>
    <TD vAlign=top align=left width="96%" bgColor=#c0c0c0>
      <P align=justify><FONT face=serif size=2>Opinion of Greensfelder, Hemker
      &amp; Gale, P.C.</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top align=left width="2%"></TD>
    <TD vAlign=top align=left width="1%"></TD>
    <TD vAlign=top align=left width="96%">&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD vAlign=top align=left width="2%" bgColor=#c0c0c0><FONT face=serif size=2>12.1</FONT></TD>
    <TD vAlign=top align=left width="1%" bgColor=#c0c0c0></TD>
    <TD vAlign=top align=left width="96%" bgColor=#c0c0c0>
      <P align=justify><FONT face=serif size=2>Computation of Earnings to Fixed
      Charges and Ratio of Earnings to Combined Fixed Charges and Preferred
      Stock Dividends.</FONT></P></TD></TR>
  <TR vAlign=bottom>
    <TD vAlign=top align=left width="2%"></TD>
    <TD vAlign=top align=left width="1%"></TD>
    <TD vAlign=top align=left width="96%"><FONT face=serif size=2>&nbsp;
      </FONT></TD></TR>
  <TR vAlign=bottom>
    <TD vAlign=top align=left width="2%" bgColor=#c0c0c0><FONT face=serif size=2>23.1</FONT></TD>
    <TD vAlign=top align=left width="1%" bgColor=#c0c0c0></TD>
    <TD vAlign=top align=left width="96%" bgColor=#c0c0c0>
      <P align=justify><FONT face=serif size=2>Consent of KPMG
  LLP.</FONT></P></TD></TR>
  <TR>
    <TD noWrap align=right width="2%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="96%">&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD vAlign=top align=right width="2%" bgColor=#c0c0c0><FONT face=serif size=2>23.2*</FONT></TD>
    <TD vAlign=top align=left width="1%" bgColor=#c0c0c0>&nbsp; </TD>
    <TD vAlign=top align=left width="96%" bgColor=#c0c0c0>
      <P align=justify><FONT face=serif size=2>Consent of Greensfelder, Hemker
      &amp; Gale, P.C. (included in Exhibit 5.1).</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top align=right width="2%"></TD>
    <TD vAlign=top align=left width="1%"></TD>
    <TD vAlign=top align=left width="96%">&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD vAlign=top align=left width="2%" bgColor=#c0c0c0><FONT face=serif size=2>24.1</FONT></TD>
    <TD vAlign=top align=left width="1%" bgColor=#c0c0c0>&nbsp; </TD>
    <TD vAlign=top align=left width="96%" bgColor=#c0c0c0>
      <P align=justify><FONT face=serif size=2>Power of Attorney of certain
      officers and directors (included on signature page to Registration
      Statement).</FONT></P></TD></TR></TABLE>____________________<BR>&nbsp;<BR>
<TABLE cellSpacing=0 cellPadding=0 border=0>

  <TR>
    <TD vAlign=top><FONT face=serif size=2>*</FONT></TD>
    <TD vAlign=top>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD vAlign=top align=left width="100%">
      <P align=justify><FONT face=serif size=2>To be filed either as an
      amendment or as an exhibit to a report filed pursuant to the Exchange Act
      of 1934, as amended, and incorporated by reference
  herein.</FONT></P></TD></TR></TABLE><BR>
<HR align=center width="100%" noShade SIZE=2>

</BODY>

</HTML>

</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-12.1
<SEQUENCE>2
<FILENAME>exhibit12-1.htm
<DESCRIPTION>COMPUTATION OF EARNINGS
<TEXT>

<HTML>
<HEAD>
   <TITLE></TITLE>
</HEAD>

<BODY bgcolor="#ffffff">

<P align=right><FONT face=SERIF size=2>Exhibit 12.1</FONT></P>
<P align=center><FONT face=serif size=1><STRONG>Enterprise Financial Services
Corp <BR>Statement Regarding Computation of Ratios of Earnings to Fixed Charges
and Preferred Stock Dividend Requirement (unaudited)</STRONG><FONT size=3>
</FONT></FONT></P>
<TABLE style="LINE-HEIGHT: 14pt; BORDER-COLLAPSE: collapse" cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=bottom>
    <TD noWrap align=left width="65%"></TD>
    <TD align=left width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="9%" colSpan=3><FONT face=serif size=1>Three months ended</FONT></TD>
    <TD noWrap align=center width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="24%" colSpan=19><FONT face=serif size=1>Years ended December 31,</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="65%"><I><FONT face=serif size=1>($ in thousands)</FONT></I></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" align=left width="1%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="9%" colSpan=3><FONT face=serif size=1>March 31, 2009 (3)</FONT></TD>
    <TD noWrap align=center width="1%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="4%" colSpan=3><FONT face=serif size=1>2008</FONT></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="4%" colSpan=3><FONT face=serif size=1>2007</FONT></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="4%" colSpan=3><FONT face=serif size=1>2006</FONT></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="4%" colSpan=3><FONT face=serif size=1>2005</FONT></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="4%" colSpan=3><FONT face=serif size=1>2004</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="65%" bgColor=#c0c0c0><B><FONT face=serif size=1>Earnings (1):</FONT></B></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="7%" bgColor=#c0c0c0></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></TD>
    <TD noWrap align=left width="2%" bgColor=#c0c0c0></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></TD>
    <TD noWrap align=left width="2%" bgColor=#c0c0c0></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></TD>
    <TD noWrap align=left width="2%" bgColor=#c0c0c0></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></TD>
    <TD noWrap align=left width="2%" bgColor=#c0c0c0></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></TD>
    <TD noWrap align=left width="2%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="65%"><FONT face=serif size=1>Income (loss)
      before income taxes</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"><FONT face=serif size=1>$</FONT></TD>
    <TD noWrap align=right width="7%"><FONT face=serif size=1>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
      (52,860</FONT></TD>
    <TD noWrap align=left width="1%"><FONT face=serif size=1>)</FONT></TD>
    <TD noWrap align=right width="1%"></TD>
    <TD noWrap align=left width="1%"><FONT face=serif size=1>$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></TD>
    <TD noWrap align=right width="2%"><FONT face=serif size=1>6,016</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=right width="1%"></TD>
    <TD noWrap align=left width="1%"><FONT face=serif size=1>$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></TD>
    <TD noWrap align=right width="2%"><FONT face=serif size=1>26,594</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=right width="1%"></TD>
    <TD noWrap align=left width="1%"><FONT face=serif size=1>$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></TD>
    <TD noWrap align=right width="2%"><FONT face=serif size=1>24,672</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=right width="1%"></TD>
    <TD noWrap align=left width="1%"><FONT face=serif size=1>$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></TD>
    <TD noWrap align=right width="2%"><FONT face=serif size=1>17,720</FONT></TD>
    <TD noWrap align=left width="1%">&nbsp;</TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"><FONT face=serif size=1>$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></TD>
    <TD noWrap align=right width="2%"><FONT face=serif size=1>12,303</FONT></TD>
    <TD noWrap align=left width="1%">&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="65%" bgColor=#c0c0c0><FONT face=serif size=1>Add: Fixed charges from below</FONT></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="7%" bgColor=#c0c0c0><FONT face=serif size=1>11,101</FONT></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="1%" bgColor=#c0c0c0>&nbsp;</TD>
    <TD noWrap align=right width="2%" bgColor=#c0c0c0><FONT face=serif size=1>51,366</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0>&nbsp;</TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0>&nbsp;</TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0>&nbsp;</TD>
    <TD noWrap align=right width="2%" bgColor=#c0c0c0><FONT face=serif size=1>61,466</FONT></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="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="2%" bgColor=#c0c0c0><FONT face=serif size=1>43,141</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>&nbsp;</TD>
    <TD noWrap align=right width="2%" bgColor=#c0c0c0><FONT face=serif size=1>23,541</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>&nbsp;</TD>
    <TD noWrap align=right width="2%" bgColor=#c0c0c0><FONT face=serif size=1>12,169</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="65%"><FONT face=serif size=1>Other
      adjustments (2)</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="7%"><FONT face=serif size=1>-</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="1%">&nbsp;</TD>
    <TD noWrap align=right width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="2%"><FONT face=serif size=1>-</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="2%"><FONT face=serif size=1>-</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="2%"><FONT face=serif size=1>(875</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%"><FONT face=serif size=1>)</FONT></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%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="2%"><FONT face=serif size=1>(113</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%"><FONT face=serif size=1>)</FONT></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%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="2%"><FONT size=1>-</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%"></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="65%" bgColor=#c0c0c0><FONT face=serif size=1>Earnings including interest expense on deposits (a)</FONT></TD>
    <TD 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=1>$</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=right width="7%" bgColor=#c0c0c0><FONT face=serif size=1>(41,759</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=left width="1%" bgColor=#c0c0c0><FONT face=serif size=1>)</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=left width="1%" bgColor=#c0c0c0><FONT face=serif size=1>$</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=right width="2%" bgColor=#c0c0c0><FONT face=serif size=1>57,382</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=right width="1%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=left width="1%" bgColor=#c0c0c0><FONT face=serif size=1>$</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=right width="2%" bgColor=#c0c0c0><FONT face=serif size=1>88,060</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=left width="1%" bgColor=#c0c0c0>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=right width="1%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=left width="1%" bgColor=#c0c0c0><FONT face=serif size=1>$</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=right width="2%" bgColor=#c0c0c0><FONT face=serif size=1>66,939</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=right width="1%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=left width="1%" bgColor=#c0c0c0><FONT face=serif size=1>$</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=right width="2%" bgColor=#c0c0c0><FONT face=serif size=1>41,149</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=left width="1%" bgColor=#c0c0c0><FONT face=serif size=1>$</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=right width="2%" bgColor=#c0c0c0><FONT face=serif size=1>24,472</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=left width="1%" bgColor=#c0c0c0></TD></TR>
  <TR>
    <TD width="100%" colSpan=25>&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="65%" bgColor=#c0c0c0><FONT face=serif size=1>Less: interest expense on deposits</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="7%" bgColor=#c0c0c0><FONT face=serif size=1>(7,836</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%" bgColor=#c0c0c0><FONT face=serif size=1>)</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="2%" bgColor=#c0c0c0><FONT face=serif size=1>(39,921</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%" bgColor=#c0c0c0><FONT face=serif size=1>)</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="2%" bgColor=#c0c0c0><FONT face=serif size=1>(52,864</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%" bgColor=#c0c0c0><FONT face=serif size=1>)</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="2%" bgColor=#c0c0c0><FONT face=serif size=1>(37,832</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%" bgColor=#c0c0c0><FONT face=serif size=1>)</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="2%" bgColor=#c0c0c0><FONT face=serif size=1>(20,475</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%" bgColor=#c0c0c0><FONT face=serif size=1>)</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="2%" bgColor=#c0c0c0><FONT face=serif size=1>(9,998</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%" bgColor=#c0c0c0><FONT face=serif size=1>)</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="65%"><FONT face=serif size=1>Earnings
      excluding interest expense on deposits (b)</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=left width="1%"><FONT face=serif size=1>$</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=right width="7%"><FONT face=serif size=1>(49,595</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=left width="1%"><FONT face=serif size=1>)</FONT></TD>
    <TD noWrap align=right width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=left width="1%"><FONT face=serif size=1>$</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=right width="2%"><FONT face=serif size=1>17,462</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=left width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=right width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=left width="1%"><FONT face=serif size=1>$</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=right width="2%"><FONT face=serif size=1>35,195</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=left width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=right width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=left width="1%"><FONT face=serif size=1>$</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=right width="2%"><FONT face=serif size=1>29,107</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=left width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=right width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=left width="1%"><FONT face=serif size=1>$</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=right width="2%"><FONT face=serif size=1>20,674</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=left width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=left width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=left width="1%"><FONT face=serif size=1>$</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=right width="2%"><FONT face=serif size=1>14,474</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=left width="1%"></TD></TR>
  <TR>
    <TD width="100%" colSpan=25>&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="65%" bgColor=#c0c0c0><B><FONT face=serif size=1>Fixed charges (1):</FONT></B></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="7%" bgColor=#c0c0c0></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></TD>
    <TD noWrap align=left width="2%" bgColor=#c0c0c0></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></TD>
    <TD noWrap align=left width="2%" bgColor=#c0c0c0></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></TD>
    <TD noWrap align=left width="2%" bgColor=#c0c0c0></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></TD>
    <TD noWrap align=left width="2%" bgColor=#c0c0c0></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></TD>
    <TD noWrap align=left width="2%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="65%"><FONT face=serif size=1>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Interest on deposits</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"><FONT face=serif size=1>$</FONT></TD>
    <TD noWrap align=right width="7%"><FONT face=serif size=1>7,836</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=right width="1%"></TD>
    <TD noWrap align=left width="1%"><FONT face=serif size=1>$</FONT></TD>
    <TD noWrap align=right width="2%"><FONT face=serif size=1>39,921</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=right width="1%"></TD>
    <TD noWrap align=left width="1%"><FONT face=serif size=1>$</FONT></TD>
    <TD noWrap align=right width="2%"><FONT face=serif size=1>52,864</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=right width="1%"></TD>
    <TD noWrap align=left width="1%"><FONT face=serif size=1>$</FONT></TD>
    <TD noWrap align=right width="2%"><FONT face=serif size=1>37,832</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=right width="1%"></TD>
    <TD noWrap align=left width="1%"><FONT face=serif size=1>$</FONT></TD>
    <TD noWrap align=right width="2%"><FONT face=serif size=1>20,475</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"><FONT face=serif size=1>$</FONT></TD>
    <TD noWrap align=right width="2%"><FONT face=serif size=1>9,998</FONT></TD>
    <TD noWrap align=left width="1%"></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="65%" bgColor=#c0c0c0><FONT face=serif size=1>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Interest on
    borrowings</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="7%" bgColor=#c0c0c0><FONT face=serif size=1>2,640</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></TD>
    <TD noWrap align=right width="2%" bgColor=#c0c0c0><FONT face=serif size=1>11,338</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></TD>
    <TD noWrap align=right width="2%" bgColor=#c0c0c0><FONT face=serif size=1>8,601</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></TD>
    <TD noWrap align=right width="2%" bgColor=#c0c0c0><FONT face=serif size=1>5,309</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></TD>
    <TD noWrap align=right width="2%" bgColor=#c0c0c0><FONT face=serif size=1>3,067</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></TD>
    <TD noWrap align=right width="2%" bgColor=#c0c0c0><FONT face=serif size=1>2,170</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="65%"><FONT face=serif size=1>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; TARP preferred stock dividends
      (pre-tax)</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="7%"><FONT face=serif size=1>625</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="2%"><FONT face=serif size=1>108</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="2%"><FONT face=serif size=1>-</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="2%"><FONT face=serif size=1>-</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="2%"><FONT face=serif size=1>-</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="2%"><FONT size=1>-</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%"></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="65%" bgColor=#c0c0c0><FONT face=serif size=1>Fixed charges including interest on deposits (c)</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=left width="1%" bgColor=#c0c0c0><FONT face=serif size=1>$</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=right width="7%" bgColor=#c0c0c0><FONT face=serif size=1>11,101</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="1%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=left width="1%" bgColor=#c0c0c0><FONT face=serif size=1>$</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=right width="2%" bgColor=#c0c0c0><FONT face=serif size=1>51,366</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=right width="1%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=left width="1%" bgColor=#c0c0c0><FONT face=serif size=1>$</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=right width="2%" bgColor=#c0c0c0><FONT face=serif size=1>61,466</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=right width="1%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=left width="1%" bgColor=#c0c0c0><FONT face=serif size=1>$</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=right width="2%" bgColor=#c0c0c0><FONT face=serif size=1>43,141</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=right width="1%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=left width="1%" bgColor=#c0c0c0><FONT face=serif size=1>$</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=right width="2%" bgColor=#c0c0c0><FONT face=serif size=1>23,541</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=left width="1%" bgColor=#c0c0c0><FONT face=serif size=1>$</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=right width="2%" bgColor=#c0c0c0><FONT face=serif size=1>12,169</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=left width="1%" bgColor=#c0c0c0></TD></TR>
  <TR>
    <TD width="100%" colSpan=25>&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="65%" bgColor=#c0c0c0><FONT face=serif size=1>Less: interest expense on deposits</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="7%" bgColor=#c0c0c0><FONT face=serif size=1>(7,836</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%" bgColor=#c0c0c0><FONT face=serif size=1>)</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="2%" bgColor=#c0c0c0><FONT face=serif size=1>(39,921</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%" bgColor=#c0c0c0><FONT face=serif size=1>)</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="2%" bgColor=#c0c0c0><FONT face=serif size=1>(52,864</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%" bgColor=#c0c0c0><FONT face=serif size=1>)</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="2%" bgColor=#c0c0c0><FONT face=serif size=1>(37,832</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%" bgColor=#c0c0c0><FONT face=serif size=1>)</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="2%" bgColor=#c0c0c0><FONT face=serif size=1>(20,475</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%" bgColor=#c0c0c0><FONT face=serif size=1>)</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="2%" bgColor=#c0c0c0><FONT face=serif size=1>(9,998</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%" bgColor=#c0c0c0><FONT face=serif size=1>)</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="65%"><FONT face=serif size=1>Fixed charges
      excluding interest expense on deposits (d)</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=left width="1%"><FONT face=serif size=1>$</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=right width="7%"><FONT face=serif size=1>3,265</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=left width="1%"></TD>
    <TD noWrap align=right width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=left width="1%"><FONT face=serif size=1>$</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=right width="2%"><FONT face=serif size=1>11,446</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=left width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=right width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=left width="1%"><FONT face=serif size=1>$</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=right width="2%"><FONT face=serif size=1>8,601</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=left width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=right width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=left width="1%"><FONT face=serif size=1>$</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=right width="2%"><FONT face=serif size=1>5,309</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=left width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=right width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=left width="1%"><FONT face=serif size=1>$</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=right width="2%"><FONT face=serif size=1>3,067</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=left width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=left width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=left width="1%"><FONT face=serif size=1>$</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=right width="2%"><FONT face=serif size=1>2,170</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=left width="1%"></TD></TR>
  <TR>
    <TD width="100%" colSpan=25>&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="65%" bgColor=#c0c0c0><FONT face=serif size=1>Ratio of earnings to combined fixed charges and</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="7%" bgColor=#c0c0c0></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></TD>
    <TD noWrap align=left width="2%" bgColor=#c0c0c0></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></TD>
    <TD noWrap align=left width="2%" bgColor=#c0c0c0></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></TD>
    <TD noWrap align=left width="2%" bgColor=#c0c0c0></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></TD>
    <TD noWrap align=left width="2%" bgColor=#c0c0c0></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></TD>
    <TD noWrap align=left width="2%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="65%" bgColor=#c0c0c0><FONT face=serif size=1>preferred dividends:</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="7%" bgColor=#c0c0c0></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></TD>
    <TD noWrap align=left width="2%" bgColor=#c0c0c0></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></TD>
    <TD noWrap align=left width="2%" bgColor=#c0c0c0></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></TD>
    <TD noWrap align=left width="2%" bgColor=#c0c0c0></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></TD>
    <TD noWrap align=left width="2%" bgColor=#c0c0c0></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></TD>
    <TD noWrap align=left width="2%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="65%"><FONT face=serif size=1>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Excluding interest on deposits
      (b)/(d)</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=right width="7%"><FONT face=serif size=1>-</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=right width="2%"><FONT face=serif size=1>1.53x</FONT></TD>
    <TD noWrap align=left width="1%"><FONT face=serif size=1></FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=right width="2%"><FONT face=serif size=1>4.09x</FONT></TD>
    <TD noWrap align=left width="1%"><FONT face=serif size=1></FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=right width="2%"><FONT face=serif size=1>5.48x</FONT></TD>
    <TD noWrap align=left width="1%"><FONT face=serif size=1></FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=right width="2%"><FONT face=serif size=1>6.74x</FONT></TD>
    <TD noWrap align=left width="1%"><FONT face=serif size=1></FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=right width="2%"><FONT face=serif size=1>6.67x</FONT></TD>
    <TD noWrap align=left width="1%"><FONT face=serif size=1></FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="65%" bgColor=#c0c0c0><FONT face=serif size=1>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Including interest on deposits
      (a)/(c)</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="7%" bgColor=#c0c0c0><FONT face=serif size=1>-</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></TD>
    <TD noWrap align=right width="2%" bgColor=#c0c0c0><FONT face=serif size=1>1.12x</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0><FONT face=serif size=1></FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="2%" bgColor=#c0c0c0><FONT face=serif size=1>1.43x</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0><FONT face=serif size=1></FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="2%" bgColor=#c0c0c0><FONT face=serif size=1>1.55x</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0><FONT face=serif size=1></FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="2%" bgColor=#c0c0c0><FONT face=serif size=1>1.75x</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0><FONT face=serif size=1></FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="2%" bgColor=#c0c0c0><FONT face=serif size=1>2.01x</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0><FONT face=serif size=1></FONT></TD></TR>
  <TR>
    <TD width="100%" colSpan=25>&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="65%" bgColor=#c0c0c0><FONT face=serif size=1>Ratio of earnings to combined fixed charges</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="7%" bgColor=#c0c0c0></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></TD>
    <TD noWrap align=left width="2%" bgColor=#c0c0c0></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></TD>
    <TD noWrap align=left width="2%" bgColor=#c0c0c0></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></TD>
    <TD noWrap align=left width="2%" bgColor=#c0c0c0></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></TD>
    <TD noWrap align=left width="2%" bgColor=#c0c0c0></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></TD>
    <TD noWrap align=left width="2%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="65%"><FONT face=serif size=1>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Excluding interest on deposits
      (b)/(d)</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=right width="7%"><FONT face=serif size=1>-</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=right width="2%"><FONT face=serif size=1>1.53x</FONT></TD>
    <TD noWrap align=left width="1%"><FONT face=serif size=1></FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=right width="2%"><FONT face=serif size=1>4.09x</FONT></TD>
    <TD noWrap align=left width="1%"><FONT face=serif size=1></FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=right width="2%"><FONT face=serif size=1>5.48x</FONT></TD>
    <TD noWrap align=left width="1%"><FONT face=serif size=1></FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=right width="2%"><FONT face=serif size=1>6.74x</FONT></TD>
    <TD noWrap align=left width="1%"><FONT face=serif size=1></FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=right width="2%"><FONT face=serif size=1>6.67x</FONT></TD>
    <TD noWrap align=left width="1%"><FONT face=serif size=1></FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="65%" bgColor=#c0c0c0><FONT face=serif size=1>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Including interest on deposits
      (a)/(c)</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="7%" bgColor=#c0c0c0><FONT face=serif size=1>-</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></TD>
    <TD noWrap align=right width="2%" bgColor=#c0c0c0><FONT face=serif size=1>1.12x</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0><FONT face=serif size=1></FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="2%" bgColor=#c0c0c0><FONT face=serif size=1>1.43x</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0><FONT face=serif size=1></FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="2%" bgColor=#c0c0c0><FONT face=serif size=1>1.55x</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0><FONT face=serif size=1></FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="2%" bgColor=#c0c0c0><FONT face=serif size=1>1.75x</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0><FONT face=serif size=1></FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="2%" bgColor=#c0c0c0><FONT face=serif size=1>2.01x</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0><FONT face=serif size=1></FONT></TD></TR></TABLE><BR>
<TABLE cellSpacing=0 cellPadding=0 border=0>

  <TR>
    <TD vAlign=top><FONT face=serif size=1>(1)</FONT></TD>
    <TD vAlign=top><FONT size=1>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></TD>
    <TD vAlign=top align=left width="100%">
      <P align=justify><FONT face=serif size=1>As defined in Item 503(d) of
      Regulation S-K.</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="100%" colSpan=3>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top><FONT face=serif size=1>(2)</FONT></TD>
    <TD vAlign=top><FONT size=1>&nbsp;</FONT></TD>
    <TD vAlign=top align=left width="100%">
      <P align=justify><FONT face=serif size=1>For purposes of the "earnings"
      computation, other adjustments include subtracting minority interest in
      pre-tax income of subsidiaries that did not incur fixed
    charges.</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="100%" colSpan=3>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top><FONT face=serif size=1>(3)</FONT></TD>
    <TD vAlign=top><FONT size=1>&nbsp;</FONT></TD>
    <TD vAlign=top align=left width="100%">
      <P align=justify><FONT face=serif size=1>Due to the Company's $50.6
      million loss (including $45.4 million of goodwill impairment charges) for
      the three months ended March 31, 2009, the ratio coverage was less than
      1:1. The Company would have had to generate additional earnings of $52.9
      million to achieve a coverage ratio of 1:1.</FONT></P></TD></TR></TABLE><BR>
<HR align=center width="100%" noShade SIZE=2>

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</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-23.1
<SEQUENCE>3
<FILENAME>exhibit23-1.htm
<DESCRIPTION>CONSENT OF KPMG LLP.
<TEXT>

<HTML>
<HEAD>
   <TITLE></TITLE>
</HEAD>

<BODY bgcolor="#ffffff">

<P align=right><FONT face=SERIF size=2>Exhibit 23.1</FONT></P>
<P align=center><B><FONT face=serif size=2>Consent of Independent Registered
Public Accounting Firm </FONT></B></P>
<P align=justify><FONT face=serif size=2>The Board of Directors <BR></FONT><FONT face=serif size=2>Enterprise Financial Services Corp:</FONT> <FONT face=serif size=2><BR><BR>We consent to the incorporation by reference in the registration
statement on Form S-3 of Enterprise Financial Services Corp of our reports dated
March 13, 2009, with respect to the consolidated balance sheets of Enterprise
Financial Services Corp as of December 31, 2008 and 2007, and the related
consolidated statements of income, shareholders&#146; equity and comprehensive
income, and cash flows for each of the years in the three-year period ended
December 31, 2008&nbsp;and the effectiveness of internal control over financial
reporting as of December 31, 2008, which reports appear in the December 31, 2008
annual report on Form 10-K of Enterprise Financial Services Corp.</FONT></P>
<P><IMG src="enterprise3x10x1.jpg" border=0> </P>
<P><FONT size=2>St. Louis, Missouri <BR>June 16, 2009</FONT> <BR></P>
<P>
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</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>4
<FILENAME>enterprise3x10x1.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
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</SUBMISSION>
