operator ADVISED THAT SHE WAS THE V1 OPERATOR AND THEY HAD BEEN TROLLING FOR SPANISH MACKERAL WHEN subject CAUGHT ONE.  SHE PLACED V1 IN NEUTRAL AND TURNED AROUND TO ASSIST HIM WITH THE FISH.  AT THAT TIME A LARGE WAVE HIT V1 SPINNING IT SO THAT THE STERN WAS POINTING TOWARDS SHORE.  ANOTHER LARGE WAVE PUSHED V1 BACKWARDS, CAUSING THE TRANSOM TO GO UNDER, SWAMPING V1, ULTIMATELY CAUSING IT TO CAPSIZE.  ALL FIVE PERSONS AND TWO DOGS WENT IN THE WATER.  operator AND ONE DOG SWAM TO SHORE.  THE OTHER PERSONS AND DOG WERE RETRIEVED FROM THE WATER BY A COMMERCIAL FISHERMAN IN THE AREA.
PANAMA CITY BEACH             