On August 28, 2005, at 1325 eastern daylight time, a Bellanca 8GCBC, N88432, registered to and operated by Boomer Aviation Inc, collided with water on Miramar Beach, Destin, Florida. The banner tow flight was operated under the provisions of Title 14 CFR Part 91 and no flight plan was filed. Visual meteorological conditions prevailed at the time of the accident. The commercial pilot was not injured, and the airplane was not recovered. The flight departed Fort Walton Beach Airport, Navarre, Florida, at 1240 August 28, 2005. The flight departed Navarre Airport towing a banner eastbound along the Gulf of Mexico near Miramar Beach. The pilot was one hour and forty-five minutes into the flight when the engine lost power. Emergency procedures were executed, however attempts to restart the engine were unsuccessful. The banner in tow was released and the pilot ditched the airplane into the Gulf of Mexico. The pilot swam to shore and the airplane was not recovered for examination.