He completed his studies at Theological College at The Catholic University of America in Washington, D.C. Watters was ordained a priest in the Archdiocese of Dubuque on June 7, 1941, by Archbishop Francis Beckman in St. Raphael's Cathedral.

Watters returned to Rome in 1956 where he served as spiritual director at the Pontifical North American College until 1960.

[1] After he returned to Iowa, Watters became the director of the North American Martyrs Retreat House in Cedar Falls.

[3] On January 8, 1969, Paul VI appointed Watters as the fifth bishop of the Diocese of Winona; he was installed on March 13, 1969.

This emphasis on the role of lay people helped in the years Watters was the bishop and after he resigned as the number of priests in diocese declined.

He initially moved to St. Mary's College in Winona where he taught part-time and served as chaplain to the Brothers.

He moved briefly to Pacific Grove, California, to be near his sisters before returning to Winona in 2003 and resided at Callista Court at St. Anne's Extended Healthcare.