Peterson finished with 11 points and 10 rebounds for the Red Wolves (17-9, 11-6 Sun Belt Conference), who have won three straight games. Kendrick Dickerson had 14 points and six rebounds, and Cameron Golden had 12 points.
After Louisiana-Monroe scored the game's first two points, Arkansas State scored the next 16 points. The Red Wolves built on their lead, pushing the advantage to 24-3 when Finn knocked down a 3-pointer with 12:20 left in the first half.
The Warhawks (4-18, 3-13) were unable to recover, as Arkansas State continued to surge in the second half for the victory.
Former Kentucky guard Ed Davender, the only Wildcat with at least 1,500 points and 400 assists, has died. He was 49.
Guard Naz Mitrou-Long, whose 2015-16 season ended in December due to hip problems, has been granted a hardship waiver for the coming season, Iowa State said.
As the Sooners look to life without superstar Buddy Hield and his sidekicks, it's clear their unseasoned players will need to grow up fast.