Waters was nominated by President Ronald Reagan on August 28, 1981, to a seat on the United States District Court for the Western District of Arkansas vacated by Judge Paul X. Williams. He was confirmed by the United States Senate on October 21, 1981, and received his commission on October 26, 1981. He served as Chief Judge from 1981 to 1997. He assumed senior status on August 1, 1997. His service was terminated on April 16, 2002, due to his death in Fayetteville, Arkansas.
