Ric Smith announced that he plans to retire in 2013 as the CEO and president of Metairie Bank and Trust. Smith, 66, said he will continue to serve in his current position until a successor is hired and likely stay on in an advisory role for several weeks to assist with the transition. Smith will also keep his seat on the bank's board.

Smith is part of an internal selection team that will find a new CEO in the coming weeks. Smith said the bank is currently interviewing its first round of executive candidates and hopes to make a selection by February.