This paper describes a design method of cosine-modulated filter banks (CMFB's) for an efficient coding of images. Whereas the CMFB has advantages of low design and implementation cost, subband filters of the CMFB do not have linear phase property. This prevents from employing a symmetric extension in transformation process, and leads to a degradation of the image compression performance. However, a recently proposed smooth extension alleviates the problem with CMFB's. As a result, well-designed CMFB's can be expected to be good candidates for a transform block in image compression applications. In this paper, we present a novel design approach of regular CMFB's. After introducing a regularity constraint on lattice parameters of a prototype filter in paraunitary (PU) CMFB's, we also derive a regularity condition for perfect reconstruction (PR) CMFB's. Finally, we design regular 8-channel PUCMFB and PRCMFB by an unconstrained optimization of residual lattice parameters, and several simulation results for test images are compared with various transforms for evaluating the proposed image coder based on the CMFB's with one degree of regularity. In addition, we show a computational complexity of the designed CMFB's.