U.S. BANCORP <USBC.O> HAS ACQUISITION APPROVAL U.S. Bancorp (Oregon) said it has been advised orally that its application for the acquisition of Old National Bancorp has been approved by the Board of Governors of the Federal Reserve. The company said it has also been advised that it has received Fed approvals for its acquisition of Heritage Bank of Camas, Wash., and for its conversion of its subsidiary, U.S. Thrift and Loan of Salt Lake City, Utah, into a commercial bank. In January U.S. Bancorp and Old National reached a definitive agreement covering the acquisition of all the stock of Old National which it does not already own for 171 mln dlrs. U.S. Bancorp currently owns 4.9 pct of Old National's stock.