In 1942 Dick led the Cedarburg Bulldogs to a 4-C Conference basketball championship, as he scored 174 points and became the first Cedarburg High School player to average in double figures for an entire season.  Dick also scored a then-record 23 points in a single game.

After graduation from Cedarburg High School, Dick enlisted in the armed forces and was a member of the 5^th Army basketball team.  In 1947 Dick attended Marquette University and joined the basketball team as a walk-on, becoming  the first basketball player from Cedarburg High School to play on an NCAA Division 1  college basketball team.  He earned a varsity letter in each of his four seasons.   In 2009 Marquette University ranked Dick 143rd out of the 667 best players in the history of the MU basketball program.

Following graduation from Marquette University, Dr. Peterson established a successful dental practice in Cedarburg.  He served on the Cedarburg School Board for nine years and was a member of the Cedarburg-Grafton Rotary, supporting student college scholarships.