The Englishman Wallace drained a 30-footer for par on his final hole at the Seaside Course to maintain his position atop the leaderboard.
"It was really blustery and gusting up a good amount around the 13, 14 where we go out to sea a little bit," he said afterward. "Hitting a 5-iron from 150 yards is not normal, but I'm kind of used to that from being back home, just normally playing on links courses rather than these types of courses here."
Wallace's 64 marks his lowest on the PGA Tour as he searches for his first win stateside. He's a four-time winner on the European Tour.
Villegas, whose last win came at the 2014 Wyndham Championship, later joined Wallace at 6-under by birdieing his final hole of the day.
Here's how the top of the leaderboard sits after 18 holes:
|Place||Player||To Par||R1 Score|
|T1||Matt Wallace||-6||64 (SS)|
|T1||Camilo Villegas||-5||64 (SS)|
|T3||Rory Sabbatini||-5||65 (SS)|
|T3||Peter Malnati||-5||65 (SS)|
|T3||Cameron Tringale||-5||67 (PL)|
|T3||Adam Long||-5||67 (PL)|
|T3||Patton Kizzire||-5||65 (SS)|
|T3||Robert Streb||-5||65 (SS)|
|T3||Keegan Bradley||-5||67 (PL)|
SS - Seaside Course, PL - Plantation Course
Cameron Tringale, Adam Long, and Keegan Bradley posted the lowest rounds on the Plantation Course, which is played once by the field before those who make the cut head to the Seaside Course for the final two rounds.
Round 2 of the RSM Classic gets underway at 9:30 a.m. ET on Friday.