RedactedNarrative: According to the operator and passenger they were heading back in from duck hunting on Lake Dardanelle; attempting to cut through a jetty to the boat ramp when V1 took on water and capsized.  As they approached the narrow cut, the operator slowed down and as the bow lowered water came over into V1. The passenger was holding onto a PFD and decided to jump into the water and swim to shore. Water continued to flow into V1 and the operator decided to abandon ship also.  
  
  Once recovered, V1's capacity plate noted the boat was rated for 4 people or 500 pounds.  Both the operator and passenger were over capacity to begin with aside from all their gear.  The passenger sitting in the bow weighed 400 pounds and there was very little freeboard; so any movement or change in the bow's elevation would immediately cause water to enter V1.