The airplane, operating as a banner tow flight, had an in-flight collision with a separated banner from another Piper PA-18-150 at 0900 Eastern time. Visual conditions prevailed; the commercial pilot reported minor injuries. The pilot later stated he was at 500 feet, northeast-bound when he observed a banner floating directly ahead and attempted to dive beneath it. The banner became entangled with the propeller and the engine stopped. He turned the airplane towards the beach, dropped his banner, made a mayday call, and initiated a forced landing near the surf line. The airplane collided with the water and nosed over inverted. When abeam the Grand Strand Airport, the other pilot felt an increase in airspeed and realized his banner had separated after the main panel. The separated banner was recovered and the FAA will examine it.
