FORM 4
[ ] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).         
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES
                                                                                  
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Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public
Utility Holding Company Act of 1935 or Section 30(f) of the Investment Company Act of 1940
                      

1. Name and Address of Reporting Person *

BENOIST PETER 		2. Issuer Name and Ticker or Trading Symbol

ENTERPRISE FINANCIAL SERVICES CORP [ EFSC ] 		5. Relationship of Reporting Person(s) to Issuer (Check all applicable)

__ X __ Director                      _____ 10% Owner
__ X __ Officer (give title below)      _____ Other (specify below)
President & CEO
(Last)          (First)          (Middle)

150 N. MERAMEC 		3. Date of Earliest Transaction (MM/DD/YYYY)

12/15/2010
(Street)

ST. LOUIS, MO 63105
(City)        (State)        (Zip)
4. If Amendment, Date Original Filed (MM/DD/YYYY)

 
6. Individual or Joint/Group Filing (Check Applicable Line)

_ X _ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3) 		2. Trans. Date 2A. Deemed Execution Date, if any 3. Trans. Code
(Instr. 8) 		4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5) 		5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4) 		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price
Common Stock                  130460   D   (1)
 
Common Stock   12/15/2010     M    3521   A $0   43360   D  
 
Common Stock   12/15/2010     F    1144   D $10.69   42216   D  
 
Common Stock                  1121   (2) I   401 (k) Plan  

Table II - Derivative Securities Beneficially Owned ( e.g. , puts, calls, warrants, options, convertible securities)
1. Title of Derivate Security
(Instr. 3) 		2. Conversion or Exercise Price of Derivative Security 3. Trans. Date 3A. Deemed Execution Date, if any 4. Trans. Code
(Instr. 8) 		5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5) 		6. Date Exercisable and Expiration Date 7. Title and Amount of Securities Underlying Derivative Security
(Instr. 3 and 4) 		8. Price of Derivative Security
(Instr. 5) 		9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Incentive Stock Option (right to buy)   $10.25                    10/1/2001   (3) 10/1/2012   Common Stock   50000     50000   D  
 
Non-Qualified Stock Option (right to buy)   $13.40                    10/1/2004   (3) 5/13/2013   Common Stock   37313     37313   D  
 
Non-Qualified Stock Option   $22.73                    1/5/2009   (4) 1/5/2016   Common Stock   3850     3850   D  
 
Non-Qualified Stock Option (right to buy)   $30.17                    1/5/2010   (4) 1/5/2017   Common Stock   2900     2900   D  
 
Non-Qualified Stock Option (righ to buy)   $22.90                    1/5/2011   (4) 1/5/2018   Common Stock   3970     3970   D  
 
Restricted Share Units     (5) 12/15/2010     M         3521      (6)   (6) Common Stock   3521   $0   1322   D  
 
Stock Settled Stock Appreciation Rights   $25.63                    12/15/2007   (7) 6/15/2017   Common Stock   16508     16508   D  
 
Stock Settled Stock Appreciation Rights   $20.63                    12/15/2008   (8) 6/13/2018   Common Stock   43178     43178   D  
 
Stock Settled Stock Appreciation Rights   $21.49                    9/24/2009   (9) 9/24/2018   Common Stock   50000     50000   D  
 

Explanation of Responses:
( 1)  These shares are held jointly with spouse.
( 2)  The reporting person holds units in the stock fund and the number of shares reported as indirectly held in the 401 (k) plan in this row is an estimate of the number of shares of the issuer's Common Stock held in the unitized stock fund and allocated to the reporting person's account.
( 3)  Effective 10/01/2004 the Board fully vested the oustanding employee and Director stock options.
( 4)  Options vest 33% per year for three years
( 5)  Each RSU represents the right to recieve one share of Common Stock, subject to adjustment as provided in the Grant Agreement.
( 6)  The RSUs vest at a rate of 20% annually over five years, subject to continued employment of the reporting person. Vesting occurs on December 15 of each year, commencing in the calendar year of the grant. On each vesting date, for each RSU vesting on such date, the reporting person will receive one share of Common Stock.
( 7)  Each SSAR consists of the right to receive an amount, in common stock, equal to the excess of the fair market value of a share of common stock on the date of exercise over the exercise price of the SSAR. The SSARs vest at a rate of 20% annually over five years, subject to continued employement of the reporting person. Vesting occurs on December 15 of each year, commencing December 15, 2007.
( 8)  Each SSAR consists of the right to receive an amount, in common stock, equal to the excess of the fair market value of a share of common stock on the date of exercise over the exercise price of the SSAR. The SSARs vest at a rate of 20% annually over five years, subject to continued employment of the reporting person. Vesting occurs on December 15 of each year, commencing December 15, 2008.
( 9)  Each SSAR consists of the right to receive an amount, in common stock, equal to the excess of the fair market value of a share of common stock on the date of exercise over the exercise price of the SSAR. The SSARs vest at a rate of 33% annually over three years, subject to continued employment of the reporting person. Vesting occurs on September 24 of each year, commencing September 24, 2009.

Reporting Owners
Reporting Owner Name / Address
Relationships
Director 10% Owner Officer Other
BENOIST PETER
150 N. MERAMEC
ST. LOUIS, MO 63105 		X
President & CEO

Signatures
Peter F. Benoist 12/17/2010
** Signature of Reporting Person Date


Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number.
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