Two new optimization-based methods are proposed for the design of high-performance quincunx filter banks for the application of image coding. These new techniques are used to build linear-phase finite-length-impulse-response (FIR) perfect-reconstruction (PR) systems with high coding gain, good frequency selectivity, and certain prescribed vanishing-moment properties. A parametrization of quincunx filter banks based on the lifting framework is employed to structurally impose the PR and linear-phase conditions. Then, the coding gain is maximized subject to a set of constraints on vanishing moments and frequency selectivity. Examples of filter banks designed using the newly proposed methods are presented and shown to be highly effective for image coding. In particular, our new optimal designs are shown to outperform three previously proposed quincunx filter banks in 72% to 95% of our experimental test cases. Moreover, in some limited cases, our optimal designs are even able to outperform the well-known (separable) 9/7 filter bank (from the JPEG-2000 standard).