Assign variables with cut

I need to read a file (a list) and assign the value to a variable (for each line), I'm looping until the end of the file. My problem is, I want to assign 2 separate variables from the list. The process I'm using is:

awk '{print $3}' file1 > file2
awk '{print $4}' file1 > file3

cat file2 | while read var1
do
   cat file3 | cut -c2 | while read var2
      do
         if [[ "$var1" = "L" && "$var2" = "e" ]] then
            echo "Good Match" $var1

         elif [[ "$var1" = "T" && "$var2" = "t" ]] then   
            echo "Good Match" $var1
         else 
            echo "No Match" 

         fi
      done
done

It seems like my results are 2 running twice (reading the var2 twice), meaning the test runs separately for both tests.. I need to link up the variable lists in order to test both conditions at the same time (or dependant on one another). TIA.

Just read the original file and discard some variables -
try:

   while read first second var1 var2 alltherest
      do
         if [[ "$var1" = "L" && "$var2" = "e" ]] then
            echo "Good Match" $var1

         elif [[ "$var1" = "T" && "$var2" = "t" ]] then   
            echo "Good Match" $var1
         else 
            echo "No Match" 
         fi
      done < file1

thank you very much, I was not aware that we could assign 2 variables in that manner. Here is my code that works, for those who may run into this problem:

cat file | grep "M " > file1

awk '{print $3,$4}' file1 > file2

cat file2 | cut -c1,2,4 > file3

cat file3 | while read var1 var2  

do
   if [[ "$var1" = "L" && "$var2" = "e" ]] then
      echo "Good Match" $var1
   elif [[ "$var1" = "T" && "$var2" = "t" ]] then   
      echo "Good Match" $var1
   elif [[ "$var1" = "P" && "$var2" = "c" ]] then
      echo "Good Match" $var1 
   else 
      echo "No Match"
   fi
done