On September 11, 1994, about 1445 central daylight time, a Bellanca 8GCBC, N53925, registered to Aerial Ads Inc. of the Southeast, crashed during a go-around at Panama City Beach Airport, Panama City Beach, Florida, while on a 14 CFR Part 91 banner tow flight. Visual meteorological conditions prevailed at the time and no flight plan was filed. The aircraft received substantial damage and the commercial-rated pilot received minor injuries. The flight originated at Panama City Beach, Florida, on September 11, 1994, about 1300. The pilot stated he approached the airstrip, which runs north and south, from the south, and dropped a banner. He was scheduled to pick up another banner which was set up for a pickup to the north; however, this was canceled. He reversed direction and set up to land to the south. As he approached he realized he was too high, and he executed a go-around. During the go-around the right main landing gear became entangled with the banner that was set up for pickup. The aircraft nosed down and collided with the ground right wing first and then nosed over.