The Mississippi Business Journal reported Chaney's three-year term is effective Monday.
The board of directors will provide economic information from the region to the district bank president and other offices that will use it to form monetary policy and make discount rate recommendations.
Chaney has led Hancock since 2006 after serving three years as chief financial officer. Hancock Holding Company is the parent company of Hancock Bank in Gulfport and Whitney Bank in New Orleans.
Chaney is a member of the board of directors of the Mississippi Power Company and serves as chairman of the Mississippi Bankers Association. He is also treasurer of the board of directors of the Mississippi Economic Council and a member of the executive committee of the Gulf Coast Business Council. In addition, Chaney is an instructor and course coordinator in the bank regulatory law course at the LSU Graduate School of Banking in Baton Rouge, the Alabama Banking School, and the Mississippi School of Banking.
T. Lee Robinson Jr., president of Mobile, Ala.,-based Overseas Hardwoods Company Inc., also was reappointed to the board.