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                                  OMB APPROVAL
FORM 3                        OMB Number..3235-0104
                            Expires:December 31, 2001
                            Estimated average burden
                             hours per response 0.5
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                UNITED STATES SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

            INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

     Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934,
Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(f)
                     of the Investment Company Act of 1940

1. Name and Address of Reporting Person

   Chroback, Bruce S.
   c/o Fab Industries, Inc.
   200 Madison Avenue
   New York, New York 10022

2. Date of Event Requiring Statement (Month/Day/Year)

   May 3, 2001

3. IRS or Social Security Number of Reporting Person (Voluntary)


4. Issuer Name and Ticker or Trading Symbol

   Fab Industries, Inc. ("FIT")

5. Relationship of Reporting Person(s) to Issuer (Check all applicable)

   ( ) Director  ( ) 10% Owner  (X) Officer (give title below) ( ) Other
   (specify below)

   Assistant Treasurer and Controller

6. If Amendment, Date of Original (Month/Day/Year)

7. Individual or Joint/Group Filing (Check Applicable Line)

   (X) Form filed by One Reporting Person
   ( ) Form filed by More than One Reporting Person*


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 Table I -- Non-Derivative Securities Beneficially Owned                                                                           |
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1. Title of Security                       |2. Amount of          |3. Ownership    |4. Nature of Indirect                          |
                                           |   Securities         |   Form:        |   Beneficial Ownership                        |
                                           |   Beneficially       |   Direct(D) or |                                               |
                                           |   Owned              |   Indirect(I)  |                                               |
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Common Stock, par value $0.20 per share    |     136              |     I          |   By ESOP                                     |
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                                           |                      |                |                                               |
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                                           |                      |                |                                               |
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*If form is filed by more than one reporting  person,  see Instruction  5(b)(v).                                              (over)
Reminder:  Report on a separate line for each class of securities beneficially owned directly or indirectly.         SEC 1473 (7-96)


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 Table II -- Derivative Securitites Beneficially Owned                                                                             |
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1.Title of Derivative   |2.Date Exer-       |3.Title and Amount     |         |4. Conver-|5. Owner-    |6. Nature of Indirect      |
  Security              |  cisable and      |  of Underlying        |         |sion or   |ship         |   Beneficial Ownership    |
                        |  Expiration       |  Securities           |         |exercise  |Form of      |                           |
                        |  Date(Month/      |-----------------------|---------|price of  |Deriv-       |                           |
                        |  Day/Year)        |                       |Amount   |deri-     |ative        |                           |
                        | Date    | Expira- |                       |or       |vative    |Security:    |                           |
                        | Exer-   | tion    |         Title         |Number of|Security  |Direct(D) or |                           |
                        | cisable | Date    |                       |Shares   |          |Indirect(I)  |                           |
-----------------------------------------------------------------------------------------------------------------------------------|
                                                                                   
                        |         |         |                       |         |          |             |                           |
-----------------------------------------------------------------------------------------------------------------------------------|
Employee Stock Option   |         |         |                       |         |          |             |                           |
(right to buy)          |  (1)    |10/27/09 |   Common Stock        | 4,000   | $13.00   |     D       |                           |
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                        |         |         |                       |         |          |             |                           |
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                        |         |         |                       |         |          |             |                           |
-----------------------------------------------------------------------------------------------------------------------------------|

 Explanation of Responses:

(1)   The option became and will become exercisable in five equal annual
      installments beginning on October 27, 2000.


                                               /s/ Bruce S. Chroback
                                               ------------------------
                                               **Bruce S. Chroback


                                               May 14, 2001
                                               ------------------------
                                               Date

** Intentional  misstatements or omissions of facts constitute  Federal Criminal
   Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).


Note: File three copies of this Form, one of which must be manually  signed.  If
      space provided is insufficient, see Instruction 6 for procedure.


  Potential persons who are to respond to the collection of information
  contained in this form are not required to respond unless the form displays a
  currently valid OMB Number.


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