RedactedNarrative: VESSEL 1 DRIVER STATED THAT THEY HAD JUST PUT THE VESSEL IN THE WATER. THE DRIVER STATED THAT HE WENT OUT A WAYS AND SAW IT WAS TAKING ON WATER AND THAT HE TRIED TO GET IT BACK TO SHORE BUT DIDNT MAKE IT. THE VESSEL SUNK WITH THE BOW STICKING UP OUT OF THE WATER.  IT WAS LATER DISCOVERED THAT THE TRANSOM HAD FAILED DUE TO SOME ROT ISSUES.  ALL OCCUPANTS STATED THEY WERE WEARING PFDS AFTER THE VESSEL BEGAN TO SINK. AREA OF THE ACCIDENT WAS APPROX 200 FT FROM THE SHORELINE OF AREA 1.