If Statement with data validation based on a letter

I am trying to put an if statement into data validation based on the following:

C5 has a name range list, "List1" consisting of:

DILN
DILC
DILG
DIMN
DIMC
DIMG
DIHN
DIHC
DIHG
NJLN
NJLC
NJLG
NJMN
NJMC
NJMG
NJHN
NJHC
NJHG

The 3rd letter in each code is either L, M, or H.

I want the data validation list in E5 to be based on if the 3rd letter is:

L then the data validation should equal CoList1
M then the data validation should equal CoList2
H then the data validation should equal CoList3

"CoList1", "CoList2" & "CoList3" are additional named ranges in the sheet